SummaryBitmine bought 28,086 ETH last week, worth about $69.4 million at Tuesday’s ether price.The company now holds 5.93 million ETH, leaving it roughly 171,000 tokens short of its goal of owning 5% of Ethereum’s supply.Market technician and Bitmine advisor Tom DeMark said ether’s sideways consolidation point to another potential move higher in the coming weeks.Bitmine Immersion Technologies BMNR$25.18·Market Closed, the largest Ethereum-focused crypto treasury firm, said Tuesday it bought 28,086 ether ETH$2,501.38 last week, inching closer to its goal of owning 5% of Ethereum’s supply.The purchase, worth about $69.4 million at Tuesday’s ether price of $2,472, lifted Bitmine’s holdings to 5,929,198 ETH.That leaves the company roughly another 171,000 ETH short from reaching its accumulation target.Bitmine has bought ETH every week since launching its Ethereum treasury strategy in June 2025. The latest haul slowed from 53,501 ETH the previous week, though the company continues to close in on its accumulation target.Maintaining last week’s pace, that could occur in less than seven weeks.Ether may resume uptrend, analyst saysThe purchase came as the company remain upbeat on ETH after the token traded mostly sideways over the past two weeks near the $2,400-$2,500 levels, digesting its 35% rally in only a few days in mid-August.Tom DeMark, founder of DeMark Analytics and a capital markets adviser to Bitmine, said his technical indicators point to another potential move higher in the coming weeks.“ETH moved sideways without a downside break and the 12-day metric expired, which implies a renewal of the upside move,” DeMark said. “We believe this further supports the continuation of the prior uptrend.”Related AssetsRelated StocksMarket Closed