BitMine's $81M ETH Buy Sparks 30% Ethereum Price Rally

BitMine Immersion Technologies (BMNR) made its largest weekly acquisition since July, purchasing 32,447 ETH tokens valued at approximately $81 million. This purchase added to BitMine's cumulative Ethereum reserves, bringing the total to 5,847,611 tokens, representing about 4.8% of Ethereum's circulating supply.

The acquisition coincided with Ethereum's impressive 30% weekly price appreciation, marking its strongest performance since May 2025. Chairman Thomas Lee referenced historical patterns where a similar rally preceded gains of 167% to 170%. Lee also hinted that emerging trends in asset tokenization and artificial intelligence agents leveraging blockchain infrastructure could position ETH to outperform Bitcoin during the current market cycle.

Spot Ethereum ETFs in the United States recorded $697 million in net capital inflows, their strongest week since October. However, Daan Crypto Trades (@DaanCrypto) cautioned that a rejection below the $2,300 threshold could transform the rally into a liquidity sweep, potentially triggering a retracement toward the bull market support band.

BitMine has staked approximately 5.07 million ETH, representing roughly 87% of its total holdings, and estimates annual staking revenue of around $330 million. Technical analysis places Ethereum's immediate resistance level at $2,678, with a secondary resistance target positioned at $2,865.