The firm continues to buy ETH at an accelerated pace despite a reported paper loss of nearly $10 billion on its holdings.

The company bought 126,971 ETH last week, worth roughly $214 million at current prices, despite chairman Tom Lee's earlier calls to slow purchases.

Tom Lee's Bitmine bought 75,000 ETH for $123M on June 9, pushing its treasury past 5.4 million ether as it chases a 5% supply target.