Bitmine Makes Biggest Ethereum Purchase Since Early July

• ETH
• BMNR

Bitmine Immersion Technologies (NYSE: $BMNR) increased its purchase of Ethereum (CRYPTO: $ETH) over the past week even as the cryptocurrency’s price rallied 34%. 

The largest Ethereum treasury company made its biggest purchase of Ethereum since early July over the last week, acquiring an additional 32,447 ETH at a cost of $81 million U.S.

Bitmine now owns 5,847,611 Ethereum tokens valued at $14.6 billion U.S. based on the current price of $2,505 U.S. 

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The accelerated purchases come after Bitmine, led by Chairman Tom Lee, had decreased its buying in recent months.

Bitmine is close to its stated goal of owning 5% of Ethereum’s circulating supply. The company has added ETH every week since launching its Ethereum treasury strategy in June 2025.

Its holdings now account for roughly 4.8% of Ethereum’s total supply of 120.7 million tokens. 

Hitting the 5% target would require Bitmine to buy an additional 6.04 million Ethereum, leaving the company 187,000 tokens short of its self-imposed goal.

The latest purchases of Ethereum by Bitmine come amid a blistering rally for the second largest cryptocurrency by market capitalization. 

In the last week, the price of ETH has risen nearly 35%, jumping from around $1,800 U.S. to above $2,500 U.S. 

It’s a sharp reversal for Ethereum, which had traded sideways for most of this year and was unable to break through resistance at $2,000 U.S.

Ethereum has outpaced the rally in Bitcoin over the past week, with the price of BTC increasing 24% to just under $79,000 U.S.   

Bitmine also continues to stake most of its Ethereum holdings. 

The company says it has staked 5.07 million ETH, or about 87% of its holdings, and projects roughly $330 million U.S. in annualized staking revenue at current yields.

BMR stock has declined 54% over the last 12 months to trade at $22.83 U.S. per share. 

Source: finance.yahoo.com