Bitmine Purchases Another $68 Million Of Ethereum

Bitmine Immersion Technologies, a leading crypto investor, has purchased an additional 27,180 Ethereum (ETH) worth $68 million in the past week. This brings the total amount spent on Ethereum to $370 million, as the company aims to own 5% of the circulating supply. Currently, Bitmine holds 5,956,378 ETH, out of a total circulating supply of 122 million tokens globally. To reach its 5% target, Bitmine needs to acquire an additional 144,000 ETH.

CEO Tom Lee has been actively adding Ethereum to the company's treasury since the strategy's inception in June 2025. Lee believes that Ethereum's relative strength against Bitcoin is improving, suggesting a bullish outlook for the second-largest cryptocurrency by market capitalization. He also notes that a U.S. Senate vote on the Clarity Act, scheduled for September 15, could be a positive catalyst for Ethereum and other digital assets. As of September 14, ETH was trading at $2,504.70.