Tom Lee’s Bitmine Immersion Technologies continued its accumulation of Ether last week, adding to its treasury holdings as the cryptocurrency staged a sharp breakout following a prolonged downturn.
In a disclosure on Monday, the company announced it purchased 32,447 Ether (ETH) last week. This latest acquisition brings Bitmine's total holdings to 5,847,611 ETH, representing approximately 4.8% of Ethereum’s circulating supply. Bitmine has acquired ETH every week since launching its Ethereum treasury strategy on June 30, 2025, extending its buying streak to roughly 14 months.
Following the disclosure, the company’s NYSE-traded shares rose about 8.7% to open the week, building on gains of nearly 28% over the past six months.
Bitmine is now 97% of the way toward its stated goal of owning 5% of the total ETH supply. The company has also staked 5.07 million ETH, which accounts for about 87% of its total holdings, and reported combined crypto, cash, securities, and other investments totaling $14.9 billion.
The purchase coincided with a broader market rally. Ether has outperformed Bitcoin since the US Treasury announced plans last Wednesday to double its monthly purchases of certain longer-dated US Treasurys from $2 billion to $4 billion, beginning next month. According to CoinMarketCap data, Ether has gained more than 32% since the announcement, breaking above $2,500 for the first time since January.
The recent price rebound has also reduced Bitmine's unrealized losses. The company has invested more than $19.5 billion in its Ether treasury, and its paper losses have fallen to below $5 billion, down from more than $8.4 billion approximately a week prior, according to DropsTab data.
