Bitmine Doubles Down on Ethereum, Adds $81.2 Million Worth of Ether Amid Price Surge

Bitmine Immersion Technologies has made its biggest Ethereum bet in weeks, adding 32,447 ETH worth about $81.2 million to its treasury.

The move comes as ether itself is roaring back, up about 30% over the past seven days, and marks Bitmine's largest single-week addition since early July.

According to CoinDesk, Bitmine now holds nearly 5.85 million ETH, valued at roughly $14.6 billion, which accounts for about 4.8% of Ethereum's total supply.

Bitmine's chairman Tom Lee says this rally could be the start of something bigger, pointing to two earlier instances where similar weekly gains preceded much larger moves in ETH prices.