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BTC 
ETH Bitmine buys 32,447 Ethereum
Last week, Bitmine Immersion Technologies purchased 32,447 Ethereum (ETH) for approximately US$81 million, the largest weekly purchase since early July. As a result, the company's total number of Ethereum held increased to 5.85 million pieces.
Highlights
In the past week, Bitmine has increased its holdings of 32,447 Ethereum, the largest weekly purchase since early July. The company currently holds 5,847,611 tokens, accounting for approximately 4.8% of Ethereum's total supply. Tom Lee said that the weekly gain of Ethereum reached 30%, which is similar to the increase before the previous two surges, and Ethereum has risen even more since those two surges.
The Norwalk, Connecticut-based company announced the purchase on Monday. As of Saturday, when the Ethereum trading price was about US$2440, the total number of Ethereum it held had reached 5,847,611 pieces. At this price, these positions are worth approximately $14.3 billion, an increase of approximately $3 billion in a week. In pre-market trading on Monday, the company's shares rose 3.5% and the price of ether exceeded $2500, compared with about $1900 last Wednesday.
This position is equivalent to 4.8% of Ethereum's 120.7 million token supply, 97% of what the company calls its "5% alchemy" goal. Achieving this goal requires holding approximately 6.04 million tokens, and Bitmine is currently short of approximately 187,000 tokens after 14 months of weekly purchases (the company said it has never interrupted).
Tom Lee links purchase to rise in Ether
The company's chairman Tom Lee linked the purchase to a 30% weekly gain in Ether, the largest weekly gain since May 2025. He said that there had been only similar weekly gains in July 2021 and May 2025, and after these two times, Ethereum rose by 167% and 170% respectively. However, there is no guarantee that historical patterns will repeat themselves.
Lee attributed the rise to easing financial conditions, Wall Street's push for tokenization and the prospect of artificial intelligence agents trading on blockchain. He expects these factors to push ether higher relative to Bitcoin (BTC). He compared the current situation with earlier cycles driven by initial coin offerings, non-homogeneous tokens and stablecoins, and said the White House's support signals for cryptocurrencies have improved risk appetite.
Bitmine's pledge revenue and purchase rhythm
The company has pledged 5,067,309 tokens, accounting for 87% of its ether holdings. These pledged assets are worth approximately US$12.4 billion, exceeding the treasury positions of any other competitor. Based on a 7-day yield of 2.67%, Bitmine expects annualized pledge revenue to be approximately US$330 million, which will change with network conditions. If all of its ether holdings were transferred to its internal verification network MAVAN, the figure would reach US$381 million.
The company holds a total of $14.9 billion in cryptocurrencies, cash and other assets, including 210 bitcoins,$308 million in cash and securities, and investments in Beast Industries and Eightco Holdings. Bitmine ranks second in corporate cryptocurrency holdings, behind Strategy, which holds 840,447 bitcoins worth approximately US$70 billion.
Weekly purchases have previously shrunk as the goal gets closer. The company purchased 10,270 tokens the previous week and 9,926 the week before, with the latest purchase volume more than triple the previous pace. Since the strategy was launched on June 30, 2025, Bitmine has been increasing its holdings of ether every week.
