BitMine Reports $12.1B Crypto Holdings, 3.73 Million Ethereum, and ETH Purchases Jump 39% Ahead of December Fusaka Upgrade

BitMine disclosed total holdings valued at $12.1 billion as of 6:30 PM ET on November 30, with a breakdown of 3,726,499 ETH, 192 BTC, $36 million in Eightco Holdings equity (NASDAQ: ORBS), and $8.82 billion in unencumbered cash.

Thomas “Tom” Lee, chairman of Fundstrat and BitMine, stated that the firm added 96,798 ETH over the prior week. Looking toward December, investors will watch the Fusaka Upgrade (also known as Fulu-Osaka), slated for December 3 to enhance scalability, security, and usability.

On the macro front, the Federal Reserve is expected to conclude quantitative tightening and potentially deliver another rate cut around December 10. More than seven weeks have passed since the October 10 liquidation event, and market context remains a factor for ETH price dynamics. BitMine notes it has raised its weekly ETH purchases by 39% as part of its ongoing asset strategy.