Bitmine Buys $81M of Ether, Biggest Weekly Addition Since Early July

Bitmine Immersion Technologies (BMNR) accelerated its ether accumulation last week, adding 32,447 ETH after several weeks of smaller purchases. At roughly $2,500 per ETH on Monday, the buy is valued at about $81 million. The purchase lifted Bitmine’s Ethereum holdings to 5,847,611 ETH, worth about $14.6 billion at current prices. Shares of BMNR were up about 3.5% in premarket trading as ETH traded above $2,500. The Tom Lee-chaired company had slowed buying in recent months as it approached its self-imposed target of owning 5% of Ethereum’s supply. Lee said Bitmine has still added ETH every week since launching its Ethereum treasury strategy in June 2025. Bitmine’s holdings now represent about 4.8% of Ethereum’s 120.7 million token supply. At the current supply level, reaching the 5% goal would require about 6.04 million ETH, leaving the company roughly 187,000 ETH short. The stepped-up buying coincided with a broader rebound in crypto prices, with ETH up about 30% over the past week. Lee pointed to two prior episodes when ether rose more than 30% in a single week, arguing such moves marked the start of larger advances. He said ether later climbed 167% after a similar jump in July 2021 and 170% following the May 2025 rally. He cautioned that historical patterns do not guarantee similar returns. Lee also cited supportive factors including easier financial conditions, Wall Street's push to tokenize assets, and potential blockchain usage by AI agents. He said these trends could also help ether gain ground versus bitcoin. Bitmine is also deploying most of its holdings through staking. The company has staked 5.07 million ETH, about 87% of its total, and estimates roughly $330 million in annualized staking revenue at current yields.