Bitmine Immersion Technologies Buys $68 Million in Ethereum

Bitmine Immersion Technologies Inc. purchased 27,180 Ethereum for $68 million over a one-week period, acquiring the assets at an average price of just over $2,500 per token. This acquisition increases the company's total holdings to 5,956,378 ETH.

The company has added Ethereum to its treasury on a weekly basis since June 2025. Bitmine is pursuing a strategic goal of owning 5% of the circulating supply, which requires a total of 6.1 million tokens.

Chairman Tom Lee described the relative strength of Ethereum against Bitcoin as a bullish sign. He identified the September 15 U.S. Senate vote on the Clarity Act crypto market-structure legislation as a potential catalyst for further growth in digital assets.