BitMine Accelerates Ethereum Purchases with $131M Buy

BitMine Immersion Technologies has made another substantial Ethereum acquisition, purchasing 53,501 ETH worth approximately $131 million. This purchase represents BitMine's largest weekly Ethereum buy since June and follows its addition of 32,447 ETH during the previous week.

The company now holds a total of 5,901,112 ETH, which is equivalent to about 4.9% of Ethereum's reported 120.7 million-token supply. According to Tom Lee's BitMine, reaching this 'Alchemy of 5%' target is nearly within reach, with only around 134,000 additional ETH needed.

BitMine has been accumulating Ethereum for 65 consecutive weeks since launching its Ethereum treasury strategy on June 30, 2025. Its latest purchase marks a significant acceleration in buying after a summer slowdown.