Bitmine Extends 14-Month Ethereum Buying Streak as Ether Tops $2,500
Key Takeaways
- •Bitmine acquired 32,447 ETH over the past week, raising its total holdings to 5.85 million tokens, equal to roughly 4.8% of Ethereum's total supply.
- •The company has bought ETH every week without interruption since launching its treasury strategy on June 30, 2025, a streak lasting about 14 months.
- •Bitmine's combined cryptocurrency, cash and other investments reached $14.9 billion, with ETH reported at $2,440 as of Aug. 23, and more than 5 million of its ETH was staked.
- •Ether climbed about 30% over the latest week, its strongest weekly advance since 2025, according to the company.
- •Chairman Thomas Lee said improving crypto fundamentals and easier financial conditions could support further gains, while blockchain tokenization and artificial intelligence were cited as potential long-term catalysts for Ethereum.
Bitmine Immersion Technologies has continued its weekly Ethereum accumulation streak, extending a buying strategy that has now lasted about 14 months as Ether moves sharply higher.
The company said Monday that it bought 32,447 ETH over the past week, lifting its holdings to 5.85 million tokens. Bitmine now controls about 4.8% of Ethereum’s total supply, leaving it roughly 97% of the way toward its stated goal of owning 5% of all ETH.
Ether’s latest rally has significantly increased the value of Bitmine’s holdings. The company reported ETH at $2,440 as of Aug. 23, while its combined cryptocurrency, cash and other investments reached $14.9 billion.
Ethereum Rally Strengthens Treasury Strategy
Bitmine launched its Ethereum treasury strategy on June 30, 2025. Since then, it says it has purchased ETH every week without interruption.
The latest purchase was notably larger than the smaller weekly acquisitions reported earlier this month. On Aug. 10, Bitmine disclosed a purchase of 7,391 ETH, worth roughly $14 million at the time.
The company has also been expanding its staking operation. More than 5 million ETH was staked as of Aug. 23, according to its latest update.
- ETH holdings: 5.85 million
- Share of total ETH supply: 4.8%
- Total crypto, cash and other holdings: $14.9 billion
- ETH acquired during the latest week: 32,447
ETH Momentum Adds to Bullish Outlook
Ether gained about 30% over the latest week, marking its strongest weekly advance since 2025, according to Bitmine. Chairman Thomas Lee said improving crypto fundamentals and easier financial conditions could support further gains.
The company also pointed to growing interest in blockchain-based tokenization and artificial intelligence as potential long-term catalysts for Ethereum, two themes that have increasingly shaped how corporate treasuries and investors talk about the network’s role beyond payments. Bitmine’s steady accumulation shows how those narratives are being paired with direct balance-sheet exposure, while the firm continues to balance purchases with share buybacks as it approaches its 5% ETH target.
