BitMine Expands Ether Holdings, Aims for 5% of Supply

BitMine Immersion Technologies expanded its Ethereum holdings over the past week, buying tens of thousands of Ether as the cryptocurrency retraced, company disclosures and onchain data show. The publicly traded firm added 82,353 ETH in the week and has made other large purchases, including several tens of thousands of tokens acquired through over‑the‑counter trades, bringing its total Ethereum position to roughly 3.4 million ETH, or about 2.8 percent of circulating supply. Combined with other assets and cash, BitMine’s treasury is valued at roughly $13.7 billion.

The purchases form part of a deliberate “buy the dip” treasury strategy the company has pursued through 2025, acquiring Ether during periods of price weakness. Company chair Thomas Lee said the firm increased cash holdings to $389 million from $305 million and acquired 82,353 ETH over the past week, a move he framed as advancing the company toward its long‑term target of accumulating about 5 percent of the total Ether supply. Some transactions were executed via OTC desks to limit market impact.

Market moves have left portions of corporate Ethereum treasuries sitting below their average purchase prices. Broad market data...