Bitmine Immersion (NASDAQ:BMNR) bought 26,497 Ethereum (CRYPTO: ETH) worth roughly $53 million last week, cutting its weekly purchase pace by more than 75% after the prior week’s 120,000 ETH haul.
Firm Now Holds 4.49% Of Ethereum’s Circulating Supply
The latest purchase lifts Bitmine’s total holdings to 5.42 million ETH, putting the firm about 90% of the way toward its stated goal of owning 5% of Ethereum’s circulating supply.
Chairman Tom Lee said at Consensus 2026 in May that the company planned to moderate accumulation as it approached that target.
“ETH prices are not reflecting the strengthening of Ethereum fundamentals,” Lee said Monday. “But then again, this is not surprising given we are in the early stages of crypto spring,” he added.
Bitmine remains one of the few large digital asset treasury firms still actively adding to …
