The digital asset firm adds over 110,000 Ether in a single week, targeting 5% of the total Ethereum supply as prices slide.
BitMine Immersion Technologies has expanded its Ethereum (ETH) treasury by 34% in the past week, seizing on a price correction to strengthen its long-term crypto portfolio. The company revealed that it acquired 110,288 Ether, bringing its total holdings to 3.5 million ETH, valued at roughly $12.5 billion.
At an average purchase price of $3,639 per token, BitMine now controls around 2.9% of Ethereum’s circulating supply, edging closer to its target of owning 5% of all ETH in existence. The accumulation underscores growing institutional confidence in Ethereum as a cornerstone of blockchain infrastructure.
BitMine’s chairman Tom Lee said the recent dip created a compelling entry point. “The pullback in Ethereum prices presented an attractive opportunity. Wall Street is clearly moving toward tokenizing assets on blockchain networks to create more transparency and efficiency for both issuers and investors,” Lee explained.
He added that Ethereum’s evolution continues to draw traditional finance into the digital asset space. “This is the key fundamental story behind Ethereum’s super cycle over the next decade,” he said.
Originally launched as a cryptocurrency mining firm, BitMine has transformed into one of the largest corporate Ethereum holders globally. The company’s growing exposure mirrors a wider institutional trend toward digital asset accumulation and blockchain infrastructure development.
At the time of reporting, ETH traded near $3,561, marking a 13.4% decline over two weeks and 4.7% drop over the past month. Despite the temporary drawdown, analysts note that large-scale accumulation during downturns often signals long-term bullish sentiment.
BitMine’s stock, BMNR, has also reflected investor optimism — soaring over 400% year-to-date to $41.15. Industry observers say this performance reinforces market belief in the firm’s Ethereum-focused growth strategy, even as price volatility continues.
“Institutional adoption is no longer a theory — it’s accelerating,” one analyst noted, emphasizing that BitMine’s moves could reshape how corporate treasuries approach digital assets in the coming years.
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.