Bitmine buys 53,501 ETH in latest weekly treasury purchase
Bitmine (BMNR) bought 53,501 ETH last week for about $131 million, its biggest weekly addition since June. Holdings total 5,901,112 ETH worth about $14.5 billion, roughly 4.9% of Ethereum supply.
Bitmine Immersion Technologies (NYSE: BMNR ) bought 53,501 Ethereum (CRYPTO: ETH) last week for approximately $131 million, its largest weekly purchase since June.
What the Latest Purchase Shows According to a Bitmine press release Monday, the company now holds 5,901,112 ETH worth approximately $14.5 billion at current prices, representing 4.9% of Ethereum’s total supply of 120.7 million tokens.
The company needs approximately 134,000 additional ETH to reach its 5% ownership target.
Bitmine has purchased Ethereum for 65 consecutive weeks since launching its treasury strategy in June 2025.
Its latest acquisition followed a 32,447 ETH purchase the previous week and marked its largest weekly addition since June.
The company had slowed its buying during July and August, when several weekly purchases fell below 10,000 ETH.
Meanwhile, Bitmine has also staked 5.07 million ETH, or approximately 86% of its holdings.
Based on a seven-day staking yield of 2.63%, the company projects $335 million in annual staking revenue.
Why Lee Thinks Institutions Are About to Move? Bitmine Chairman Tom Lee noted in the release that ETH is the best-performing macro asset in Q3, outperforming the S&P 500 (NYSE: SPY ) by 5,430 basis points through last Friday.
Ethereum gained 55% in August, compared with Bitcoin’s 34% advance.
Lee argued that the gap could encourage institutions to increase their crypto allocations.
He also identified the expected CLARITY Act vote in September, renewed crypto demand from South Korean investors and a possible four-year cycle bottom as potential market drivers.
Additionally, Lee expects tokenization and blockchain-based AI activity to support the ETH-to-Bitcoin ratio, similar to how initial coin offerings, NFTs and stablecoins influenced earlier market cycles.
Where BMNR Stands Technically? BMNR traded nearly flat Monday after reaching $26.72 last week.
The stock now tests horizontal support near $23, which acted as resistance between January and March.
The 200-day EMA at $22.18 sits just below as the next level to watch if the pullback deepens.
Key levels for BMNR: $26.72 — spike high, resistance above $22 — 200-day EMA, next support below Image: Shutterstock