Bitmine Boosts Ethereum Holdings with $81M ETH Purchase

Bitmine Immersion Technologies (BMNR), the world's largest Ethereum treasury company, has made its latest move in accumulating ether. The company purchased 32,447 ETH last week as cryptocurrency prices rebounded, valued at approximately $81 million based on the current price of $2,500 per ETH.

This purchase increases Bitmine's total holdings to 5,847,611 ETH, worth about $14.6 billion at current market prices. BMNR shares gained around 3.5% in pre-market trading as Ethereum surpassed $2,500. The company's chairman, Tom Lee, had previously slowed its Ethereum purchases as it approached its goal of controlling 5% of the circulating supply.

However, Bitmine has continued to add ether every week since launching its Ethereum treasury strategy in June 2025. Reaching its 5% target at the current supply level would require approximately 6.04 million ETH, putting the company about 187,000 tokens short.

The renewed buying activity comes as Ethereum records a strong market recovery. ETH gained roughly 30% over the past week, prompting Lee to suggest that the cryptocurrency may have additional upside potential. He pointed to previous occasions when Ethereum posted weekly gains exceeding 30%, resulting in significant price increases.