Bitmine Immersion Technologies (NYSE:BMNR) purchased 101,627 Ethereum (CRYPTO: ETH) in the past week, bringing total holdings to 4.976 million ETH worth $11.45 billion as the stock tests channel breakout near $23.
The Highest Pace Since December
The weekly purchase represents the highest pace of buys since December 15, 2025.
Bitmine now owns 4.12% of Ethereum’s total supply of 120.7 million, making the company 82% of the way to its goal of owning 5% of the total supply.
“We see growing signs that the ‘mini-crypto’ winter is coming to an end,” said Chairman Tom Lee.
“As downside tail risks for the U.S.-Iran war diminish, ETH has risen 41% from its early February lows,” he added.
ETH has outperformed the S&P 500 by 2,280 basis points …