Bitmine maintains 14-month Ethereum acquisition campaign as ETH surges past $2,500
The company continues its uninterrupted 14-month Ethereum purchasing campaign while ETH climbs above $2,500, pushing Bitmine nearer to its ambitious target of controlling 5% of total supply.
Bitmine Immersion Technologies, led by Tom Lee, maintained its ongoing Ether accumulation strategy throughout last week, expanding its position as the digital currency experienced a significant upward movement following an extended period of decline.
In a Monday announcement, the firm revealed its acquisition of 32,447 Ether (ETH) during the previous week, elevating its aggregate position to 5,847,611 ETH, which represents approximately 4.8% of the total circulating Ethereum supply. Since implementing its Ethereum treasury initiative on June 30, 2025, Bitmine has consistently purchased ETH weekly, maintaining an unbroken acquisition pattern spanning approximately 14 months.
Trading on the New York Stock Exchange, the company's equity opened the week with gains of approximately 8.7%, positioned to build upon the nearly 28% appreciation recorded throughout the preceding six-month period.
The firm has now achieved 97% progress toward its publicly announced objective of controlling 5% of the total ETH supply. Additionally, Bitmine has allocated 5.07 million ETH to staking activities, which accounts for roughly 87% of its complete holdings, while reporting a combined portfolio of cryptocurrency, cash holdings, securities and additional investments valued at $14.9 billion.
This most recent acquisition aligned with a pronounced upward movement throughout Ether and the wider digital asset marketplace. Since last Wednesday, ETH has demonstrated superior performance compared to Bitcoin, following the US Treasury's announcement regarding plans to expand its monthly acquisitions of specific longer-maturity US Treasurys to $4 billion, doubling the previous $2 billion amount starting next month.
Following this announcement, Ether has appreciated by more than 32%, climbing above the $2,500 threshold for the initial time since January, based on data from CoinMarketCap.
Ether price rebound cuts Bitmine's paper losses
The company's assertive Ether acquisition strategy throughout the market decline resulted in substantial unrealized losses as ETH valuations continued their downward trajectory. Nevertheless, the digital currency's latest upward movement has considerably reduced that deficit.
Bitmine's total investment in its Ether treasury has exceeded $19.5 billion, with unrealized losses declining to under $5 billion from a level surpassing $8.4 billion approximately one week earlier, based on information from DropsTab data.
These pronounced fluctuations underscore the complexities associated with overseeing digital asset treasury operations, as their valuations are subject to substantial variations in response to evolving market conditions.