Bitmine Immersion Technologies is closing in on its ambitious goal of accumulating 5% of Ethereum’s total supply, continuing to purchase ETH even as the cryptocurrency rebounds above $2,500.
The company announced Monday that it acquired 32,447 ETH last week, bringing its total holdings to 5,847,611 ETH, equivalent to roughly 4.8% of Ethereum’s circulating supply. Bitmine has now purchased ETH every week since launching its treasury strategy on June 30, 2025, extending its accumulation streak to approximately 14 months.
At current holdings, Bitmine is about 97% of the way toward its 5% ETH supply target. The company has also staked approximately 5.07 million ETH, or nearly 87% of its holdings, while reporting a combined portfolio of crypto, cash, securities and other investments worth about $14.9 billion.
Bitmine’s stock also benefited from the renewed strength in the crypto market, opening the week roughly 8.7% higher and extending its six-month gain to nearly 28%.
ETH Rally Revives Corporate Treasury Momentum
Bitmine’s latest purchase comes as Ether has staged a significant recovery following a prolonged period of weakness. ETH has gained more than 32% since last Wednesday and moved above $2,500 for the first time since January, according to CoinMarketCap data.
The rally has also seen Ether outperform Bitcoin, drawing renewed attention to companies pursuing aggressive ETH accumulation strategies.
For Bitmine, the recovery has provided some relief after months of declining prices left the company with substantial unrealized losses on its ETH holdings.
ETH Rebound Narrows Bitmine’s Paper Losses
Bitmine has invested more than $19.5 billion in its Ethereum treasury. According to DropsTab data, its unrealized losses have now fallen below $5 billion, compared with more than $8.4 billion roughly a week earlier.
The rapid change illustrates both the potential and the risks of corporate cryptocurrency treasury strategies. Companies holding large quantities of digital assets can see their balance sheets and market valuations shift dramatically as crypto prices move.
Bitmine’s continued purchases also signal that the company remains committed to its long-term Ethereum accumulation strategy despite the volatility. If it reaches its 5% target, Bitmine would control one of the largest corporate ETH positions in the market, further strengthening the role of institutional treasury strategies in Ethereum’s evolving market structure.
