BitMine Immersion Buys 9,946 ETH, Total Treasury 5.79M ETH

The cryptocurrency investment firm BitMine Immersion Technologies has significantly expanded its Ethereum holdings, acquiring 9,946 ETH over the past week to bring its total treasury to 5,787,414 ETH, valued at approximately $11.2 billion. The purchase, reported on July 27, represents about 4.8% of Ethereum's circulating supply and continues a weekly acquisition streak the company began on June 30, 2025.

Chairman Tom Lee confirmed the company has purchased Ethereum every week since initiating its treasury strategy. The latest acquisition was larger than the previous week's purchase of 7,430 ETH, though it remains below the firm's earlier, more aggressive buying pace. BitMine's stated long-term goal is to accumulate 5% of all Ethereum, a target it is now roughly 96% toward achieving, leaving a gap of about 247,586 ETH based on current supply figures.

Concurrently, the company accelerated its share repurchase program, buying back 6.1 million shares of its common stock last week, an increase from 5.5 million shares the prior week. Lee linked both actions to a positive outlook on crypto market conditions, specifically citing Ethereum's recent outperformance against Bitcoin. He...