BitMine Sees Further Gains Ahead as ETH Hits New Milestone
BitMine Immersion Technologies (BMNR), an Ethereum (ETH) treasury company, has made its largest purchase of ETH since July, acquiring 32,447 units last week. This move brings BitMine's holdings to 5.847 million ETH.
Chairman Thomas Lee commented on the purchase, hinting that ETH could see further gains similar to its moves after +30% rallies in May 2025 and July 2026. He noted that in both instances, a weekly gain of >30% signaled a launch point for a larger move in ETH.
Lee pointed out that in July 2021, ETH gained +167%, and after May 2025, it gained +170%. He reiterated that tokenization and agentic AI on blockchains could drive a rally in the ETH/BTC ratio in the upcoming crypto cycle.
Meanwhile, US spot ETH exchange-traded funds (ETFs) recorded their best week since last October, with $697 million in net inflows. BlackRock's iShares Ethereum Trust (ETHA) dominated flows, pulling in $536.8 million last week.