🚨 BITMINE MAKES $131 MILLION ETHEREUM BUY AS IT NEARS 5 PERCENT SUPPLY TARGET. NEW YORK, USA - BitMine Immersion Technologies has added 53,501 Ethereum to its holdings in a purchase worth about $131 million, marking its largest weekly buy since June. The acquisition pushes the company’s stash to roughly 5.9 million ETH, which is about 4.9 percent of the cryptocurrency’s circulating supply. The firm has been buying Ethereum every week for more than a year as part of a strategy to accumulate 5 percent of the network. The company has staked most of its holdings, generating hundreds of millions of dollars in projected annual revenue. Ethereum’s strong performance this quarter has helped fuel BitMine’s continued buying streak, with the asset outperforming major stock indexes. BitMine’s broader portfolio now totals more than $15 billion, including Bitcoin, cash reserves, and stakes in several companies. The latest purchase follows a series of smaller acquisitions earlier in the summer as the firm approached its supply target. BitMine’s strategy has made it the largest Ethereum treasury in the world, second only to a major Bitcoin-focused firm in overall crypto holdings.