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BitMine Immersion Technologies, described as the top Ethereum treasury firm by total holdings, said Monday that it made its largest weekly purchase so far in 2026, pushing its total Ethereum stash past the 5 million mark.
The company added 101,901 ETH over the last week, narrowly exceeding the previous week’s total of 101,627 ETH to record its largest weekly ETH buy so far this year.
BitMine’s prior week included a 10,000 ETH over-the-counter purchase from the Ethereum Foundation, which announced the sale on Friday.
With the latest purchase, BitMine now holds 5,078,386 ETH, which the company said is currently valued at around $11.75 billion.
BitMine Chairman Tom Lee said the accumulation represents a major milestone as the firm moves toward acquiring 5% of the ETH supply. He added that it took the company 10 months to reach 5 million ETH.
Ethereum was roughly flat over the last week, trading around $2,315. Over the past 30 days, it has risen about 16%, according to CoinGecko, as a Middle East ceasefire reportedly improved investor confidence in risk assets.
Despite the recent gains, Ethereum remains more than 53% below its all-time high of $4,946 set last August, around the time BitMine began accumulating large amounts of ETH.
Lee said recent research reports, including work by Etherealize, argue that ETH is a “store of value” and increasingly held as collateral as digital assets are used in financial transactions.
He also cited performance since the Iran War commenced, saying ETH has outperformed the S&P 500 by 1,696 basis points and remains the single best performing asset in the world (beside crude oil prices).
BitMine’s stock (BMNR) was down slightly on the day since the opening bell, dipping 0.3% to a recent price of $22.08.
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