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Bitmine buys $69 million more ETH, targeting 5% of supply
The company bought 28,086 ETH last week, bringing its holdings to 5.93 million ETH and leaving it about 171,000 tokens short of its 5% supply goal.
Bitmine Immersion Technologies said it purchased 28,086 ETH last week, a trade worth about $69.4 million at Tuesday’s ether price. The latest purchase lifted Bitmine’s total ETH holdings to 5,929,198.
The firm’s accumulation plan aims to own 5% of Ethereum’s supply. With the new buy, Bitmine is roughly 171,000 ETH short of that target.
Bitmine also said it has been buying ETH every week since launching its Ethereum treasury strategy in June 2025, with the most recent weekly pace slower than the prior week’s 53,501 ETH.
In remarks attributed to market technician and Bitmine advisor Tom DeMark, he said ether’s sideways consolidation and a key 12-day metric expiring point to another potential move higher in the coming weeks, supporting what he called the continuation of the prior uptrend.
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