BitMine Lands Another 32k ETH, Closes In On 5% Ethereum Target

BitMine Immersion Technologies has made another significant Ethereum purchase, adding 32,447 ETH to its expanding crypto treasury. This acquisition comes on the heels of a substantial weekly rally in Ethereum's price, which rose by 30% in the past week.

The company's total holdings of Ethereum now stand at 5,847,611 ETH, accounting for approximately 4.8% of all Ethereum coins. With this purchase, BitMine is closing in on its goal of acquiring 5% of Ethereum's total supply.

BitMine Chairman Thomas 'Tom' Lee attributed the company's successful acquisition to the strong performance of Ethereum following previous rallies. In July 2021, Ethereum saw a 167% increase after a surge, and in May 2025, it rose by 170%. Lee believes that the latest weekly gain could be the starting point for another upward trend.

The company's stock, BMNR, also experienced a significant surge following the announcement, trading at $24.27 with a change of $1.44 or 6.31% from its previous close. BitMine has staked 5,067,309 ETH, valued at approximately $12.4 billion, and estimates annualized staking revenues to be around $330 million.