BitMine continues to increase Ethereum holdings: Invested $229 million in ETH in one week, moving towards a 5% holding target

Despite the overall weak sentiment in the crypto market, the bullish forces of Ethereum are still quietly accumulating. According to Arkham on-chain monitoring data, Tom Lee’s affiliated financial company BitMine, which focuses on Ethereum deployment, has continued to make large purchases of ETH this week, with a total investment of approximately $229.31 million, demonstrating strong confidence in Ethereum’s medium to long-term value.

Latest data shows that BitMine recently withdrew 30,075 ETH from two new wallets on the FalconX platform, worth about $88.73 million. Arkham Monitoring pointed out that this operation pattern is highly consistent with BitMine’s previous on-chain purchase routes, confirming that it is still part of their ongoing accumulation strategy.

In fact, this is just part of BitMine’s recent Ethereum deployment. Just a few days ago, the company bought about $140 million worth of ETH from a FalconX hot wallet. According to CoinGecko’s Ethereum treasury statistics, BitMine has accumulated a total of 407,331 ETH in the past 30 days, currently holding more than 3.2% of the total ETH supply, ranking first among “Ethereum-exclusive treasury” institutions.

Earlier this month, BitMine spent nearly $70 million to buy ETH in just three days, then purchased 18,345 and 30,278 ETH through platforms like BitGo, totaling about $150 million. This transaction is considered one of the largest single inflows into enterprise-level Ethereum treasuries since 2025. BitMine’s management has also explicitly stated that the company’s long-term goal is to control about 5% of the total ETH supply.

In the capital markets, BitMine Immersion Technologies (stock code: BMNR) saw its stock price fall 3.04% on Thursday, closing at $29.32. Notably, Cathie Wood’s ARK Invest has recently continued to increase its holdings in BitMine stock, buying about $10.56 million worth of BMNR through its three ETFs. Previously, ARK had invested about $17 million in the position. Meanwhile, ARK also increased holdings in stocks related to COIN and Bullish.

Overall, against the backdrop of ETH price fluctuations and a market full of wait-and-see sentiment, BitMine still chooses to increase its positions against the trend, continuing to accumulate based on the logic of an “enterprise-level Ethereum treasury.” This behavior is seen by the market as a firm bet by institutions on Ethereum’s long-term value, staking economy, and future ecosystem growth. The subsequent changes in its holdings and ETH price movements remain worth monitoring.