BitMine Immersion Technologies Increases Ethereum Reserves Amid Market Downturn BitMine Immersion Technologies, a publicly traded company with an Ethereum treasury, recently acquired an additional 51,162 ETH — worth approximately $98 million — despite the ongoing decline in Ethereum's price. Over the past week, Ethereum, the second-largest cryptocurrency by market cap, fell about 4.1%, with its price fluctuating around $1,905. On Sunday, the asset hit a two-week low of $1,855 before beginning to recover. "Despite this period, which some call a ‘mini-crypto winter,’ our main goal remains the careful execution of our treasury strategy, which involves regular ETH purchases and maximizing the returns on our assets," said Tom Lee, Chairman of BitMine. Currently, BitMine's Ethereum reserves have grown to 4,422,659 ETH, which is approximately $8.4 billion at the time of publication. This accounts for about 3.66% of the circulating supply of Ethereum. However, according to DropsTab data, the company is facing unrealized losses exceeding $8.1 billion. Nevertheless, both Lee and the company remain committed to accumulating ETH. They expect 2026 to be a turning point for Ethereum as it becomes more deeply integrated into traditional finance. Lee also expressed optimism about the role of AI agents utilizing Ethereum and the potential of blockchain technology in identity verification systems. Ethereum Treasury Sharplink Reports Growth in ETH Reserves and Institutional Investments Lee, who predicts significant price growth for Ethereum, has repeatedly stated that the Ethereum price bottom — the lowest point before recovery — has already been reached, especially after record liquidations totaling $19 billion on October 10, as noted in recent reports. Despite these forecasts, Ethereum's price continued to decline, currently trading more than 61% below its August 2025 peak of $4,946 and down 35% in just the last month. Similarly, BitMine (BMNR) shares this downward trend, falling nearly 32% over the past month and more than 63% over the last six months; recently, the price of one share was $19.58. The company has almost completely lost all gains made since launching its digital asset treasury strategy in July of last year.