Bitmine Immersion Technologies has continued its weekly Ethereum accumulation streak, extending a buying strategy that has now run for about 14 months as Ether pushes sharply higher.
The company said Monday that it acquired 32,447 ETH over the past week, lifting its holdings to 5.85 million tokens. Bitmine now controls about 4.8% of Ethereum’s total supply, putting it roughly 97% of the way toward its stated goal of owning 5% of all ETH.
Ether’s latest rally has significantly increased the value of Bitmine’s holdings. The company reported ETH at $2,440 as of Aug. 23, while its combined cryptocurrency, cash and other investments reached $14.9 billion.
Ethereum Rally Strengthens Treasury Strategy
Bitmine launched its Ethereum treasury strategy on June 30, 2025. Since then, it says it has purchased ETH every week without interruption.
The latest purchase marks a notable increase from the smaller weekly acquisitions reported earlier this month. On Aug. 10, Bitmine disclosed a purchase of 7,391 ETH, worth roughly $14 million at the time.
The company has also been building its staking operation. More than 5 million ETH was staked as of Aug. 23, according to its latest update.
- ETH holdings: 5.85 million
- Share of total ETH supply: 4.8%
- Total crypto, cash and other holdings: $14.9 billion
- ETH acquired during the latest week: 32,447
ETH Momentum Adds to Bullish Outlook
Ether gained about 30% over the latest week, marking its strongest weekly advance since 2025, according to Bitmine. Chairman Thomas Lee argued that improving crypto fundamentals and easier financial conditions could support further gains.
The company also pointed to growing interest in blockchain-based tokenization and artificial intelligence as potential long-term catalysts for Ethereum.
Bitmine’s rapid accumulation highlights how corporate treasury strategies can amplify institutional demand for digital assets. However, the company is also balancing purchases with share buybacks as it approaches its 5% ETH target.
