Ethereum surged in August amid institutional interest and strong exchange-traded fund demand. ETH traded near $2,450 following a roughly 33% price increase throughout the month, with critical support established at $2,431.
U.S. spot Ethereum ETFs recorded $824.42 million in net inflows over the past week, marking the strongest weekly performance since October. August saw approximately $1.06 billion in aggregate ETF inflows, with roughly $1.4 billion entering across nine trading sessions beginning in mid-August.
BitMine Immersion Technologies expanded its Ethereum treasury by 53,501 ETH over the past week, its largest weekly acquisition since June. The company has maintained an uninterrupted buying campaign for 65 consecutive weeks, beginning on June 30, 2025.
BitMine's Ethereum reserves reached 5,901,112 ETH, valued at approximately $14.63 billion and representing 4.9% of Ethereum's 120.7 million circulating tokens. Chairman Thomas Lee has referred to reaching 5% ownership as the "Alchemy of 5%," with the company now approximately 98% toward this goal.
BitMine has deployed roughly 86% of its Ethereum position—5,067,309 ETH—to staking through its Made in America Validator Network and other infrastructure partners. The company anticipates generating approximately $335 million in annualized staking revenue based on a seven-day yield of 2.63%.
BitMine maintains a diversified treasury beyond its ETH position, including 211 Bitcoin valued at $16.4 million, $541 million in cash and marketable securities, a $180 million investment in Beast Industries, and an $81 million holding in Eightco Holdings.
BMNR shares appreciated roughly 38% throughout August alongside ETH's price movement, trading near $25 on Monday with a 6% daily gain, though remaining approximately 45% below its 52-week peak of $65.60.
