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ETH Core Points
BitMine acquired 32,447 ETH units in the past week, valued at approximately US$81 million, expanding its total reserves to 5.847 million ETH units.
Ethereum gained 30% weekly, setting its strongest performance since May 2025.
Chairman Thomas Lee cited historical patterns and pointed out that a 30% weekly increase had predicted a subsequent increase of 167% to 170%.
The net capital inflow of the U.S. spot Ethereum ETF reached US$697 million, the strongest weekly performance since October.
ETH is trading above $2400, while the RSI reading is close to 79, indicating overbought territory.
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Ethereum treasury company BitMine Immersion Technologies (BMNR) completed its largest weekly acquisition since early July, purchasing 32,447 ETH tokens. Based on Monday's market price of approximately $2500 per piece, the deal totaled approximately $81 million.
The acquisition increased BitMine's cumulative Ethereum reserves to 5,847,611 tokens, with a portfolio value of approximately US$14.6 billion. The company currently controls approximately 4.8% of the total circulation of Ethereum (approximately 120.7 million units).
Since launching the Ethereum hoarding strategy in June 2025, BitMine has continued to increase its holdings in ETH every week. The company has set an internal goal to control 5% of the total supply, or approximately 6.04 million ETH units. This means BitMine will need to acquire approximately 187,000 more tokens to achieve its stated goal.
BitMine increased its holdings by 32,447 ETH, reaching 5.85 million ETH
BitMine said it has acquired 32,447 ETH units in the past week, bringing its total holdings to 5,847,611 ETH units, accounting for approximately 4.8% of Ethereum's supply. The company has pledged approximately 5,067,309 ETH units, accounting for approximately 87% of its positions, and is expected to have annual pledge revenue of approximately US$330 million.
The accelerated buying activity coincides with Ethereum's astonishing 30% gain this week, the cryptocurrency's strongest weekly performance since May 2025.
Thomas Lee's Historical Analysis
BitMine Chairman Thomas Lee cited historical market patterns to provide context for the company's aggressive buying strategy. He pointed out that in July 2021, after a similar weekly rebound of 30%, Ethereum's price soared by 167%; in May 2025, after a similar weekly increase, it also achieved a 170% increase.
Lee said in Monday's announcement: "These two historical examples show that a weekly increase of more than 30% is the starting point for a significant increase in ETH prices. We expect that the loose financial environment will provide a favorable tailwind for the cryptocurrency market."
Lee further pointed out that emerging trends such as asset tokenization and artificial intelligence agents leveraging blockchain infrastructure may allow ETH to outperform Bitcoin in this market cycle.
Market analyst Daan Crypto Trades observed on the X platform that ETH ended the week with its highest weekly closing price in about seven months and is currently at the level of the weekly 200 moving average and the exponential moving average. He warned that a break below the $2300 mark could turn the rally into a liquidity sweep and could trigger a pullback towards bull market support.
ETF Activity and Technical Indicators
The U.S. spot Ethereum ETF experienced its strongest week since October, with net capital inflows reaching US$697 million. BlackRock's iShares Ethereum Trust (ETHA) led the inflow, absorbing $536.8 million of it.
Ethereum cleared US$108.8 million in the past 24 hours, of which short positions accounted for US$68.3 million of the total liquidation.
BitMine has pledged approximately 5.07 million ETH units, accounting for approximately 87% of its total positions, and is expected to have annual pledge revenue of approximately US$330 million.
Technical analysis shows that Ethereum's direct resistance is $2678, and the second resistance target is $2865.
