Bitmine Snaps Up 9,946 ETH Amid Strengthening Ether-Bitcoin Ratio

Bitmine Immersion Technologies (BMNR) has further solidified its commitment to Ethereum by acquiring an additional 9,946 ETH, valued at approximately $19.4 million.

This purchase pushes Bitmine's total ether holdings to 5,787,414 ETH, worth about $11.2 billion and equivalent to around 4.8% of the cryptocurrency's entire circulating supply.

The acquisition comes as the ETH/BTC ratio has reached a three-month high at 0.3000, with Bitmine Chairman Tom Lee viewing this development as a bullish signal for crypto markets.

Lee also pointed out that despite the diminishing odds of the CLARITY Act passing in 2026, the rising ETH/BTC ratio suggests that prices are strengthening.