BitMine Immersion Technologies added 71,179 ETH, valued at roughly $146 million last week, bringing its total Ethereum stake to over 4.7 million ETH worth about $9.7 billion.
Chairman Tom Lee cited stronger crypto performance amid global uncertainty, calling ETH a wartime store of value. Over the past month, Ethereum rose 8%, while gold fell 13% and major U.S. indices dropped more than 7%.
Meanwhile, Strategy-the leading Bitcoin treasury firm-paused its weekly BTC buying for the first time in weeks, following a pattern tied to fiscal quarter-end reporting. It holds over 762,000 BTC, valued near $51.2 billion.
Despite significant accumulation, both firms face deep unrealized losses. BitMine carries over $7 billion in paper losses on its ETH position; Strategy shows approximately $6.2 billion in red.
Lee forecasts an end to the current 'mini crypto winter' when oil price volatility stabilizes. Investors remain cautious as BMNR and MSTR shares hover below 52-week lows.