Bitmine Immersion Technologies said it purchased 32,447 Ether last week, increasing its holdings to 5,847,611 ETH, or about 4.8% of Ethereum’s circulating supply. The New York Stock Exchange-listed company has accumulated ETH every week since launching its treasury strategy on June 30, 2025, extending its streak to roughly 14 months.
Bitmine’s shares rose about 8.7% at the start of the week, adding to gains of almost 28% over the past six months. The company has staked 5.07 million ETH, representing about 87% of its holdings, and reported total crypto, cash, securities and other investments of $14.9 billion.
The latest purchases followed a sharp rebound in Ether and broader cryptocurrency markets. Ether has gained more than 32% since the U.S. Treasury announced plans to double monthly purchases of select longer-dated Treasurys to $4 billion from $2 billion starting next month. The cryptocurrency broke above $2,500 for the first time since January, according to CoinMarketCap data.
Bitmine’s aggressive accumulation during the downturn left the company with substantial unrealized losses as ETH prices fell. The recent recovery has significantly reduced those losses. Bitmine has invested more than $19.5 billion in its Ether treasury, with paper losses narrowing to below $5 billion from more than $8.4 billion a week earlier, according to DropsTab data.
The volatility underscores the risks of managing digital asset treasuries, where valuations can shift rapidly with market conditions.
