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Bitmine buys 53,501 ETH, boosting holdings toward 5% goal
The latest purchase, worth about $131.3 million at an ether price near $2,455, lifts Bitmine’s stash to 5.90 million ETH and leaves it about 134,000 tokens short of a 5% target.
CoinDesk reports Bitmine Immersion Technologies bought 53,501 ETH last week, valuing the purchase at about $131.3 million using Monday’s ether price of $2,455.
The acquisition raises Bitmine’s total holdings to 5,901,112 ETH, about 4.9% of Ethereum’s 120.7 million token supply, putting its self-imposed 5% target within reach.
CoinDesk says chairman Tom Lee attributed the company’s renewed accumulation to crypto’s recent outperformance, noting ether has outperformed the S&P 500 this quarter and that the strength could encourage additional institutional demand.
Bitmine has now pursued ETH purchases for 65 consecutive weeks since launching its Ethereum treasury strategy in June 2025, it has staked about 5.07 million ETH, and it projects about $335 million in annualized staking revenue at current yields.
Latest closeEthereum $2,440.83 ▼0.1%|S&P 500 7,711.76 ▼0.2%