- BitMine disclosed a roughly $800 million ETH purchase adding about 190,500 tokens.
- Total crypto and cash rose to $8.8 billion with 1.71 million ETH held.
BitMine Immersion Technologies said it spent about $800 million acquiring ether during the latest pullback, lifting its Ethereum treasury to 1.71 million tokens and taking combined crypto and cash to $8.8 billion.
Company reports weekly ETH spend and token increase alongside liquidity claims
The company outlined that the weekly buying added roughly 190,500 ETH to its balance sheet, following a sequence of accelerated purchases since late June when it pivoted to an Ethereum treasury strategy.
Management also stated that average daily trading value in its shares is about $2.8 billion, ranking the stock among the most liquid names in the United States by turnover.
Chairman Tom Lee, best known as co-founder of research firm Fundstrat, has been fronting the policy shift through a series titled “The Chairman’s Message,” positioning the programme as a methodical build in corporate ether reserves.
“In the past week, BitMine increased its crypto and cash holdings by $2.2 billion to $8.8 billion (adding over 190,500 tokens from 1.52 million to 1.71 million tokens). This is the second week that BitMine has been able to raise capital from institutional investors at this pace, as we pursue the ‘alchemy of 5%’ of ETH,” said Thomas “Tom” Lee of Fundstrat, Chairman of BitMine.
“At BitMine, we are leading our crypto treasury peers by both the velocity of raising crypto NAV per share and by the high trading liquidity of our stock.”
The company previously disclosed a private placement and subsequent purchases that moved its holdings past the $500 million mark in July, setting the stage for larger allocations in August.
Purchases coincide with intraday price weakness and stated goal to own 5% of supply
The latest buying coincided with intraday softness in ether, which touched a session low near $4,533 before recovering. The strategy echoes the firm’s declared objective to accumulate and stake up to five percent of circulating ETH over time, a target the chair has referenced in recent materials.
BitMine’s disclosures also indicate the pace of balance sheet expansion has remained elevated for a second consecutive week, with total crypto and cash assets increasing by $2.2 billion from the prior update.
As of the latest release, the firm says it holds 1.71 million ETH alongside a small bitcoin balance, consolidating its position as the largest corporate Ethereum treasury and the second-largest overall crypto treasury after the bitcoin-focused leader.
Market participants will watch whether the company can sustain funding for additional purchases at this cadence and how staking yields, liquidity risk and custody arrangements interact with the enlarged position size.
For now, the reported additions underscore an approach that seeks to use episodic price weakness to scale holdings, while public communications emphasise transparency around week-to-week inflows and token counts.
At the time of press, Ethereum is trading at $4,631.28, having declined by $134.99, or –2.83%, from the previous close. The intraday high reached $4,951.20, while the intraday low touched $4,533.44.
