Tom Lee’s Bitmine Immersion Technologies continued its weekly accumulation of Ether last week, adding 32,447 ETH as the cryptocurrency staged a sharp rebound after a prolonged decline.
The purchase raised Bitmine’s total Ethereum holdings to 5,847,611 ETH, roughly 4.8% of circulating supply. The company has bought Ether every week since launching its Ethereum treasury strategy on June 30, 2025, extending its buying streak to about 14 months.
Bitmine’s NYSE-listed shares jumped roughly 8.7% at the open, putting them on track to extend nearly 28% gains over the past six months.
The firm is now roughly 97% of the way toward its stated goal of owning 5% of Ethereum’s supply. It has staked about 5.07 million ETH — nearly 87% of its holdings — and reported combined crypto, cash, securities and other investments totaling $14.9 billion.
The latest accumulation coincided with a broader crypto rally. Ether has outperformed Bitcoin since the U.S. Treasury said it would double monthly purchases of certain longer-dated Treasurys from $2 billion to $4 billion starting next month. Since that announcement, ETH has gained more than 32% and reclaimed levels above $2,500 for the first time since January, according to CoinMarketCap.
Bitmine’s aggressive buying during the downturn left the company with large unrealized losses while prices were depressed. The recovery in Ether’s price has materially narrowed those paper losses: the firm has invested over $19.5 billion into its ETH treasury, and unrealized losses have fallen to below $5 billion from more than $8.4 billion about a week earlier, according to DropsTab data.
Those swings underline the difficulty of managing a digital-asset treasury, where valuations can move sharply with market sentiment and macro policy shifts. Bitmine’s strategy — heavy accumulation and staking — continues to shape its risk and reward profile as Ether recovers.
This report is based on company disclosures and market data at the time; readers should verify figures independently as market conditions evolve.