Bitmine accelerates ETH accumulation as it approaches its 5% supply target
🟣 Tom Lee’s Bitmine Immersion Technologies purchased another 32,447 ETH in the week ending Aug. 24, worth about $81 million. This was the company’s largest weekly ETH purchase since early July 2026.
📊 Following the purchase, Bitmine’s total holdings reached 5,847,611 ETH, representing roughly 4.8% of Ethereum’s current supply. The company is now about 187,000 ETH away from its target of holding 5% of the supply.
🔒 Around 5.07 million ETH, or approximately 87% of its holdings, is currently staked, indicating that Bitmine’s strategy extends beyond accumulation to generating yield from its assets.
📈 Tom Lee noted that ETH’s gain of more than 30% over the past week has historically preceded larger rallies, while also expecting easing financial conditions to remain supportive for crypto. However, Bitmine’s purchasing pace in the coming weeks remains an important factor to watch.
#Ethereum $ETH $BMNRB $BMT
🟣 Tom Lee’s Bitmine Immersion Technologies purchased another 32,447 ETH in the week ending Aug. 24, worth about $81 million. This was the company’s largest weekly ETH purchase since early July 2026.
📊 Following the purchase, Bitmine’s total holdings reached 5,847,611 ETH, representing roughly 4.8% of Ethereum’s current supply. The company is now about 187,000 ETH away from its target of holding 5% of the supply.
🔒 Around 5.07 million ETH, or approximately 87% of its holdings, is currently staked, indicating that Bitmine’s strategy extends beyond accumulation to generating yield from its assets.
📈 Tom Lee noted that ETH’s gain of more than 30% over the past week has historically preceded larger rallies, while also expecting easing financial conditions to remain supportive for crypto. However, Bitmine’s purchasing pace in the coming weeks remains an important factor to watch.
#Ethereum $ETH $BMNRB $BMT
