BitMine Immersion Technologies, a leading Ethereum treasury firm, has announced its largest weekly Ethereum purchase of 2026. The company has now accumulated over 5 million ETH, currently valued at approximately $11.75 billion.
Over the past week, BitMine added 101,901 ETH to its holdings, surpassing the previous week's acquisition. This significant accumulation brings the company's total ETH stash to 5,078,386. BitMine Chairman Tom Lee stated this milestone is crucial as the company aims to acquire 5% of the total ETH supply, achieving this in just 10 months.
Ethereum's price has seen a 16% increase over the last month, trading around $2,315. Despite this, it remains over 50% below its 2025 peak. Lee expressed confidence in a market turnaround, citing research that positions ETH as a 'store of value' and collateral for digital asset financial transactions. He highlighted ETH's outperformance against the S&P 500 since the start of the Iran War, noting it as the best-performing asset alongside crude oil.
BitMine's stock, BMNR, saw a slight dip of 0.3% to $22.08.