{
  "id": 3054937,
  "title": "Bitmine extends 14-month ETH buying pace as Ether breaks above $2.5K",
  "url": "https://urgent.news/2026/08/24/bitmine-extends-14-month-eth-buying-pace-as-ether-breaks-above-2-5k",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-24T15:29:26.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/bitmine-eth-holdings-5-percent-ether-price-breakout"
  },
  "original_language": "en",
  "account": "Ether's surge above $2,500 has reignited interest in corporate ETH reserves, with Bitmine inching closer to its long-term accumulation objective. Tom Lee's Bitmine Immersion Technologies continued its ETH purchases last week, boosting its reserves as the digital asset experienced a notable breakout after an extended decline. The firm disclosed on Monday that it acquired 32,447 Ether (ETH) during the week, raising its cumulative holdings to 5,847,611 ETH, or approximately 4.8% of Ethereum's circulating supply. Bitmine has been adding to its ETH treasury weekly since initiating its strategy on June 30, 2025, extending its buying streak to about 14 months. The company's NYSE-listed shares climbed roughly 8.7% at the market open, poised to continue their nearly 28% growth over the past six months. Bitmine is currently 97% of the way to its target of holding 5% of the ETH supply. It has also staked 5.07 million ETH, accounting for around 87% of its holdings, and reported combined cryptocurrency, cash, securities, and other investments of $14.9 billion. The latest purchase aligned with a sharp rise across Ether and the wider crypto market. Following the US Treasury's decision to double its monthly purchases of longer-dated US Treasurys to $4 billion from $2 billion starting next month, Ether has outperformed Bitcoin, gaining over 32% since the announcement and breaking above $2,500 for the first time since January, according to CoinMarketCap data. Bitmine's aggressive ETH acquisitions during the market downturn left the company with substantial unrealized losses as ETH prices fell. However, the cryptocurrency's recent recovery has substantially reduced that deficit. Bitmine has invested over $19.5 billion in its Ether reserve, with its paper losses shrinking to below $5 billion from nearly $8.4 billion a week ago, according to DropsTab data. Bitmine's unrealized losses on its ETH holdings have narrowed amid the market rebound.",
  "summary": "Ether’s breakout above $2,500 has put the spotlight back on corporate ETH treasuries, with Bitmine now nearing its long-stated accumulation target.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}