Bitmine raises Ethereum holdings to 4.9% after latest purchase
Bitmine buys 53,501 ETH, lifting its treasury to 5.9 million Ether See how the company’s 65-week buying streak and losses are reshaping its crypto bet
Bitmine Immersion Technologies said it bought 53,501 ETH last week, extending its Ether accumulation streak to 65 straight weeks. The purchase lifted its total holdings to more than 5.9 million ETH, or about 4.9% of Ethereum’s circulating supply.
Based on an Ether price of about $2,511 on Sunday, the company’s crypto treasury is valued at roughly $14.8 billion. Bitmine chairman Tom Lee said Ether, Bitcoin and Solana have been among the strongest major assets since late June, and he argued that the recent outperformance could encourage institutions to add crypto exposure.
Despite the larger position, Bitmine remains in roughly $5.1 billion in unrealized losses on its Ether holdings, according to DropsTab data. The losses reflect the market decline that began late last year, while the company’s NYSElisted BMNR shares were up 1.3% on Monday morning.