Funding
Bitmine Adds $30 Million in Ethereum
Bitmine Immersion Technologies, a NYSE-listed company, added 12,535 ETH worth about $30 million to its Ethereum holdings, bringing its total to 6,041,481 ETH. This represents 4.9% of Ethereum's 122.1 million token supply, and the company is nearing its goal of owning 5% of the network, which it calls the 'Alchemy of 5%'. The purchase extends a run that hasn't paused since Bitmine launched its treasury strategy on June 30, 2025, buying Ethereum every week since. Chairman Tom Lee has said the company is nearly finished stacking and will stop once it hits the 5% threshold. The latest buy lands Bitmine underwater on paper, a consequence of accumulating much of its stash last year at higher prices, with ETH now trading well below its highs.