BitMine Adds 53,501 ETH in Largest Weekly Purchase Since June

BitMine Immersion Technologies has continued its remarkable streak of buying Ethereum (ETH), adding 53,501 units last week to push its total holdings to 5.901 million ETH.

This acquisition is the company's largest weekly purchase since June and brings its total value to approximately $14.63 billion at current prices.

BitMine now holds around 4.89% of the total ETH supply, with only a further $324.5 million needed to reach 5%.

The move is attributed by Chairman Thomas Lee to Ethereum's Q3 outperformance versus the S&P 500, as well as the upcoming Senate cloture vote on the CLARITY Act, which he sees as a potential institutional catalyst.