Bitmine extends 14-month ETH buys as Ether tops $2,500

Bitmine Immersion Technologies purchased 32,447 ETH last week, raising its total holdings to 5,847,611 ETH, roughly 4.8% of Ethereum’s circulating supply. Ether traded above $2,500 following a market rally.

The purchases are part of a weekly accumulation program the company began on June 30, 2025. Bitmine has added ETH every week for about 14 months.

The company has a stated goal of owning 5% of the ETH supply and is approximately 97% of the way to that target. Bitmine has staked 5.07 million ETH, about 87% of its holdings, keeping the remainder liquid while earning staking rewards.

The latest buying coincided with a broader crypto rally after the U.S. Treasury announced plans to double monthly purchases of certain longer-dated Treasurys from $2 billion to $4 billion. Ether has risen more than 32% since that announcement and surpassed $2,500 for the first time since January.

Bitmine’s shares, listed on the NYSE, opened the week about 8.7% higher and have climbed nearly 28% over the past six months.

The company has invested about $19.5 billion in its ETH treasury. The recent price recovery reduced unrealized losses on those holdings to below $5 billion from more than $8.4 billion roughly a week earlier. Bitmine reported combined crypto, cash, securities and other investments totaling $14.9 billion.

A regulatory filing disclosed last week’s purchase but did not include public comment from company executives. Investors and observers tracking large holders and institutional adoption of ETH are likely to continue monitoring Bitmine’s accumulation.