BitMine Buys 53,501 ETH for $131 Million in Biggest Weekly Purchase Since June

BitMine Immersion Technologies, the Ethereum treasury company led by Tom Lee, acquired 53,501 ETH last week for approximately $131 million, its largest single-week purchase since June. The buy lifted the company's total holdings to 5,901,112 ETH as of August 30, 2026, valued at roughly $11.45 billion.

The purchase marked the 65th consecutive week of accumulation for BitMine, which has been aggressively building an ETH position since June 2025. The company now holds approximately 4.9% of Ethereum's total circulating supply of about 120.7 million tokens, leaving it roughly 133,888 ETH short of its stated target of 5%, equivalent to around 6.04 million ETH at current supply levels.

The accelerated buying represents a shift from earlier in the summer, when weekly purchases had fallen below 10,000 ETH on several occasions as the company approached its self-imposed ownership threshold. The renewed pace signals BitMine is pushing to close the gap on its 5% goal. BitMine trades on the NYSE under the ticker BMNR.