Bitmine Immersion, led by Chairman Tom Lee, has made a significant move by purchasing 111,942 ether (ETH) for around $237 million, marking its largest acquisition this year. This purchase increases Bitmine's total holdings to nearly 5.4 million ETH, which constitutes about 4.47% of Ethereum's circulating supply. Despite earlier indications of a slowdown in purchasing, Lee stated that the recent dip in ETH prices, falling below $2,200, presents a favorable opportunity for acquisition. The company aims to reach its target of controlling 5% of the total ether supply by 2026. Currently, Bitmine's total assets, including crypto and cash, stand at $12.3 billion, with more than 4.7 million ETH staked, generating an annualized staking revenue of approximately $276 million. This strategic purchase reflects Bitmine's ongoing commitment to expanding its cryptocurrency portfolio amid fluctuating market conditions.