BitMine Immersion Technologies has expanded its cryptocurrency treasury with a new purchase of Ethereum, according to Chairman Thomas “Tom” Lee. The acquisition coincides with a significant weekly rally for ETH.
In the past week, BitMine purchased 32,447 ETH at an approximate cost of $79 million, based on a price of $2,440 per coin. Since launching its Ethereum treasury strategy on June 30, 2025, the company has executed weekly purchases.
With this latest addition, BitMine's total Ethereum holdings have increased to 5,847,611 ETH. This gives the company control over 4.8% of the total circulating supply of 120.7 million coins, bringing it 97% of the way toward its stated goal of acquiring 5% of Ethereum's supply.
Lee noted that ETH gained 30% over the past week, marking its largest weekly gain since May 2025. He also pointed to easing financial conditions, increased Wall Street attention toward blockchain tokenization, and agentic AI on blockchain networks as potential supports for Ethereum's next phase.
Following the latest purchase, BitMine has staked 5,067,309 ETH, valued at approximately $12.4 billion. The staked amount accounts for 87% of its total ETH holdings. The company estimates its annualized staking revenues at $330 million, having earned a 2.67% seven-day annualized return from its staking service.
As of August 23, BitMine valued its total crypto, cash, marketable securities, and other investments at $14.9 billion. This total includes 210 BTC, $308 million in cash and marketable securities, a $180 million stake in Beast Industries, and an $89 million stake in Eightco Holdings.
BitMine's stock also saw gains during Monday's trading session. Market data indicated that BMNR stock traded at $24.27, representing a 6.31% increase from its previous close of $22.83, moving within a daily range of $23.23 to $24.46. BitMine was added to the Russell 1000 Large-cap index on June 26, 2026, and is listed on the NYSE under its Series A Preferred Stock with the ticker symbol BMNP.
