Bitmine Adds Another 10,399 ETH to Its Treasury, Nears 5.8 Million
Bitmine Immersion Technologies has purchased another 10,399 Ethereum (ETH) coins over the past week. This addition brings its treasury to just shy of 5.8 million ETH. The company's holdings have been increasing consistently since it adopted an Ethereum treasury strategy on June 30 last year.
The firm's Chairman Tom Lee noted that ETH's recent outperformance is a clear sign of strengthening crypto fundamentals. He pointed out that the asset outperformed the Nasdaq 100 by 25% in July, making it its strongest month in a year since July 2025.
Bitmine has been aggressively accumulating ETH and now holds 4.8% of the circulating supply. The company's staking operations continue to expand through its institutional-grade platform, MAVAN, which has already deployed 4.92 million ETH to work, representing 85% of its entire treasury.