Bitmine (BMNR), the most important Ethereum treasury firm, continued its ether (ETH) purchases final week as Chairman Tom Lee pointed to ether (ETH) outperforming bitcoin as proof the crypto market is regaining momentum.
The corporate purchased 9,946 ETH, price about $19.4 million at present costs, up from 7,430 ETH the earlier week, in line with a Monday replace. The acquisition lifted Bitmine’s holdings to five,787,414 ETH ($11.2 billion), or about 4.8% of ether’s circulating provide.
Lee stated Bitmine additionally elevated its share repurchases, shopping for again 6.1 million shares, in contrast with 5.5 million every week earlier, underneath its $4 billion buyback authorization.
The most recent buy stays properly beneath the corporate’s shopping for tempo earlier this yr, when Bitmine routinely acquired tens of hundreds of ETH every week. Even so, the corporate has continued including to its treasury each week since launching the technique in June 2025 and now owns roughly 4.8% of Ethereum’s complete provide, placing it inside attain of its long-term aim of accumulating 5%.
Ether relative power
The corporate’s optimistic outlook stems partially from the current power of ETH relative to BTC, a metric merchants usually use to gauge threat urge for food inside crypto markets.
