Bitmine accelerates ETH accumulation as it approaches its 5% supply target
đŁ Tom Leeâs Bitmine Immersion Technologies purchased another 32,447 ETH in the week ending Aug. 24, worth about $81 million. This was the companyâs largest weekly ETH purchase since early July 2026.
đ Following the purchase, Bitmineâs total holdings reached 5,847,611 ETH, representing roughly 4.8% of Ethereumâs current supply. The company is now about 187,000 ETH away from its target of holding 5% of the supply.
đ Around 5.07 million ETH, or approximately 87% of its holdings, is currently staked, indicating that Bitmineâs strategy extends beyond accumulation to generating yield from its assets.
đ Tom Lee noted that ETHâs 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, Bitmineâs purchasing pace in the coming weeks remains an important factor to watch.
#Ethereum $ETH $BMNRB $BMT
đŁ Tom Leeâs Bitmine Immersion Technologies purchased another 32,447 ETH in the week ending Aug. 24, worth about $81 million. This was the companyâs largest weekly ETH purchase since early July 2026.
đ Following the purchase, Bitmineâs total holdings reached 5,847,611 ETH, representing roughly 4.8% of Ethereumâs current supply. The company is now about 187,000 ETH away from its target of holding 5% of the supply.
đ Around 5.07 million ETH, or approximately 87% of its holdings, is currently staked, indicating that Bitmineâs strategy extends beyond accumulation to generating yield from its assets.
đ Tom Lee noted that ETHâs 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, Bitmineâs purchasing pace in the coming weeks remains an important factor to watch.
#Ethereum $ETH $BMNRB $BMT
