BitMine Immersion Technologies just scooped up another 10,399 ETH, adding to what has quietly become one of the most aggressive corporate crypto accumulation strategies in the market. The NYSE-listed company, trading under ticker BMNR, has been on a methodical buying spree since launching its Ethereum treasury strategy on June 30, 2025.
The purchase is the latest in a series of weekly acquisitions that have pushed BitMine’s total holdings past 5.79 million ETH, roughly 4.8% of Ethereum’s entire circulating supply.
The Alchemy of 5%
BitMine calls its approach the “Alchemy of 5%,” a systematic campaign to accumulate 5% of all Ethereum in circulation. Prior weekly purchases include batches of 9,946 ETH, 27,801 ETH, and 35,138 ETH.
Tom Lee, the Fundstrat co-founder who serves as chairman, has been the driving force behind the treasury strategy. To fund the buying spree, BitMine raised $274 million through preferred stock offerings in early June 2026 specifically to have capital for buying more Ethereum.
