Bitmine Buys 27,180 ETH, Sees Large Move Ahead with Ethereum

Bitmine Immersion Technologies (NYSE:BMNR) has continued its streak of Ethereum (CRYPTO: ETH) purchases, buying 27,180 ETH last week. The company now holds 5.96 million ETH at current prices, worth approximately $14.97 billion.

This represents 4.9% of Ethereum's 122 million token supply and puts the company 98% of the way to its 5% target. Bitmine has been buying ETH for 66 consecutive weeks since June 30, with a significant portion staked through the MAVAN platform.

Chairman Tom Lee predicts a large move ahead in Ethereum's price, citing a new uptrend breaking out in the ETH/BTC ratio for the first time since the COVID highs. This trend is attributed to Ethereum's growing role as settlement infrastructure for Wall Street tokenization and agentic AI.