BitMine Immersion Technologies (BMNR), the Ethereum-focused digital asset treasury company, has acquired 138,452 ether. last week, accelerating its accumulation strategy that brought its total holdings to 3.86 million tokens, the company reported Monday.
At current ETH prices, last week’s acquisition is worth approximately $435 million. This is a 156% increase from four weeks ago, when it added around 54,000 ETH, the company pointed out, and it’s also higher than the previous two weeks of 97,000 and 70,000 tokens.
The company also increased its liquidity to $1 billion, up from $882 million the previous week. Including its small bitcoin stash and a stake in Eightco Holdings (ORBS), the company’s total crypto and currency assets stand at $13.2 billion.
The latest purchase increases BitMine’s share of the circulating supply of the second-largest cryptocurrency to over 3.2%, solidifying its position as the largest known ETH hoard.
BitMine shares rose 3.8% premarket as ETH rebounded slightly over the weekend back to $3,150.
Digital asset treasuries have slowed or reversed accumulation as token prices and stock valuations have come under pressure in recent weeks. BitMine has taken the opposite approach, increasing its purchases as ether continues to trade well below its summer highs.
President Thomas Lee said the company ramped up its purchases after Ethereum’s Fusaka upgrade on Dec. 3, which brought improvements to the network’s scalability and security. He also pointed to macroeconomic factors, including the Federal Reserve’s expected rate cut this month and the end of quantitative tightening, as support for a stronger ETH market in early 2026.
Lee released a separate message on Monday titled “The crypto supercycle is intact,” saying growing adoption and growing interest in tokenization could drive demand next year.
BitMine remained one of the most actively traded U.S. stocks, with an average daily volume of approximately $1.8 billion, placing it among the top 40 most traded stocks, the company said. However, the company remains facing significant unrealized losses on its ETH stash, estimated at nearly $3 billion at current prices.
Read more: BitMine Immersion sitting on $4B loss on Ether bet as analyst warns of structural issues
