Bitmine Immersion Technologies added 101,745 Ether (ETH) over the past week, lifting its treasury to 5.18 million tokens and reaching 86% of its 5% supply goal.
Bitmine ETH Purchase
The Norwalk, Connecticut-based firm disclosed the buy on Monday, valuing the haul at roughly $237.7 million based on a $2,336 per token reference price.
It marks the third consecutive week the company has scooped up more than 100,000 ETH.
The latest tranche brings total holdings to 5,180,131 tokens, or 4.29% of the 120.7 million Ether in circulation. Combined crypto, cash and minority stakes now sit at $13.1 billion, a figure that includes 200 Bitcoin, $700 million in cash, and equity positions in Beast Industries and Eightco Holdings.
The treasury company has also staked 4,362,757 ETH, valued at $10.2 billion, making Bitmine the largest single staker of the asset. Annualized staking revenue currently runs at $297 million.
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Tom Lee Outlook
Chairman Tom Lee told investors that Bitmine has kept up the faster purchase pace for four straight weeks because Ether is in the closing phase of what he called a "mini-crypto winter."
Lee argued Wall Street tokenization and growing demand from agentic AI systems are the structural drivers for ETH.
Cryptopolitan reported that at the current weekly clip, Bitmine needs roughly 843,000 more tokens, or about two more months, to hit the 5% threshold. Institutional backers including Cathie Wood's ARK, Founders Fund, Pantera and Galaxy Digital have supported that ambition.
Bitmine remains the second-largest digital asset treasury globally, behind Michael Saylor's Strategy, which holds 818,334 BTC, or about 3.9% of the Bitcoin supply. Saylor confirmed Sunday his firm would skip its weekly Bitcoin buy.
ETH Recent Action
Ether has climbed nearly 14% over the past month, recovering from the broader pullback that gripped the sector after the fourth quarter of 2025. The token traded near $2,340 at press time.
BMNR shares have moved in tandem, rising about 19% over the same stretch and changing hands above $22 on Monday. Both, however, remain underwater on a year-to-date basis after the late-2025 drawdown that battered crypto-linked equities.
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