Bitmine Buys 32K ETH, Brings Total Holdings Over 5.8M

Bitmine Immersion Technologies has continued to build its Ethereum treasury, adding 32,447 ETH last week. This purchase brings the company's total Ether holdings to 5,847,611 ETH, approximately 4.8% of Ethereum's circulating supply.

The latest buying pace keeps Bitmine on a nearly continuous accumulation schedule tied to its stated Ethereum treasury strategy, launched on June 30, 2025. The firm now staking most of its position indicates how large spot treasuries can swing in value when the market turns.

Bitmine's acquisition during the downturn left it facing steep unrealized losses when ETH prices fell. However, the recent recovery has materially reduced that gap, with DropsTab data showing unrealized paper losses falling below $5 billion from more than $8.4 billion about a week earlier.