Strategic accumulation continues during market downturn as firm targets 5% of total ether supply
BitMine Immersion Technologies has reinforced its long-term commitment to ether by executing a major purchase during a period of market weakness. The latest acquisition pushes the company’s ETH treasury beyond a significant supply threshold, underscoring a high-conviction strategy centered on large-scale accumulation rather than short-term price movements.
The company acquired 98,852 ETH over the past week, investing approximately $300 million at prevailing market prices. This purchase increased BitMine’s total holdings to 4,066,062 ether, representing roughly 3.37% of the current ETH supply. Alongside its crypto assets, the firm continues to hold $1 billion in cash, indicating that the acquisition did not strain its liquidity position.
The accumulation occurred as broader crypto markets experienced a pullback. Ether declined sharply during the week before recovering above the $3,000 level. Despite recent volatility, BitMine maintained a steady buying pace while many other digital asset treasuries slowed accumulation or reduced exposure.
BitMine’s ether holdings are currently valued at just over $12 billion, making it the largest known ETH reserve held by a publicly traded company. However, due to recent price declines, the firm is estimated to be carrying more than $3 billion in unrealized losses on its ETH position.
The latest purchase follows a larger acquisition in the prior week and keeps BitMine aligned with its stated goal of holding 5% of total ether supply. The strategy reflects a belief in ether’s long-term role within decentralized finance and blockchain infrastructure, even amid short-term market fluctuations.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.