BitMine Immersion Technologies bought 32,447 ETH worth roughly $79 million in the past week, pushing its total Ethereum holdings to 5,847,611 coins. The purchase follows a sharp weekly rally in ETH and sent BitMine's stock up more than 6% in Monday trading.
BitMine adds to its Ethereum treasury
BitMine Chairman Tom Lee said the company bought 32,447 ETH over the last week, a purchase worth about $79 million based on an ETH price of $2,440. BitMine has been buying Ethereum weekly since it launched its ETH Treasury Strategy on June 30, 2025.
The new purchase lifts BitMine's total Ethereum holdings to 5,847,611 ETH. That equals 4.8% of all 120.7 million ETH in existence, putting the company 97% of the way toward its "Alchemy of 5%" goal of owning 5% of Ethereum's total supply.
The buying comes as ether posted its best weekly performance in years. According to CoinGape, Lee said "ETH gained 30% in the past week", and that the gain was the largest since May 2025, before that July 2021. Ethereum rallied 167% following the July 2021 move and 170% after the May 2025 surge, and Lee said this week's move could mark a similar starting point.
Lee said he expects easing financial conditions to be a tailwind for crypto, and pointed to growing Wall Street interest in tokenization and agentic AI on blockchain networks as factors that could benefit Ethereum's next phase.
BMNR stock jumps after the purchase
BitMine's stock rallied during Monday's session, trading at $24.27, up $1.44, or 6.31%, from its previous close of $22.83. The stock opened at $23.60, hit a high of $24.46 and a low of $23.23 during the day.
BitMine has also staked 5,067,309 ETH, worth about $12.4 billion at $2,440 per coin and equal to 87% of its total ETH holdings. The company estimates annualized staking revenues at $330 million. It earned a 2.67% seven-day annualized return from its own staking service.
BitMine's total crypto, cash, marketable securities and other holdings were valued at $14.9 billion by August 23, including 210 BTC, $308 million in cash and securities, a $180 million stake in Beast Industries and an $89 million stake in Eightco Holdings.
Source: CoinGape
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