BitMine Surges Past $14 Billion ETH Holdings Amid Strong ETF Demand

BitMine Immersion Technologies acquired 53,501 ETH in its largest weekly accumulation since June, bringing its total holdings to 5.901 million ETH valued at $14.63 billion.

The company now controls 4.9% of Ethereum's total circulating supply, nearing Chairman Tom Lee's strategic 'Alchemy of 5%' threshold.

Spot Ethereum ETFs attracted $824 million in net inflows last week, marking the strongest performance since October.

Ethereum's price climbed approximately 33% throughout August and is currently trading near $2,450, with critical support established at $2,431.