BitMine Immersion ramps up ether holdings to $6.6B in past week

[Ethereum cryptocurrency, physical coin in front of an abstract background]
Dennis Diatel Photography/iStock Editorial via Getty Images

BitMine Immersion Technologies (NYSE:BMNR [https://seekingalpha.com/symbol/BMNR]) expanded its ether [https://seekingalpha.com/pr/20203398-bitmine-immersion-bmnr-is-the-1-eth-treasury-in-the-world-now-2nd-largest-crypto-treasury] (ETH-USD [https://seekingalpha.com/symbol/ETH-USD]) holdings to $6.61B in the past week from $4.96B only a week earlier, it disclosed on Monday.

At Aug. 17, the company's crypto holdings comprised 1.52M ether (ETH-USD [https://seekingalpha.com/symbol/ETH-USD]) at $4,326 each, as well as 192 bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]).

"Institutional investors have expressed interest and support for our pursuit of the 'alchemy of 5%' of ETH," said Thomas "Tom" Lee of Fundstrat, chairman of BitMine, referring to the company's goal of buying 5% of ether. (ETH-USD [https://seekingalpha.com/symbol/ETH-USD]).

"As we continue to say, we are leading crypto treasury peers by both the velocity of raising crypto [net asset value] per share and by the high trading liquidity of our stock," he added.

Meanwhile, ether (ETH-USD [https://seekingalpha.com/symbol/ETH-USD]) and bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) both extended their recent slide [https://seekingalpha.com/news/4486518-bitcoin-adds-to-recent-pullback-as-crypto-liquidations-swell] from all-time highs earlier in the month, as increased crypto liquidations pushed prices lower.

MORE ON BITMINE IMMERSION TECHNOLOGIES, ETHEREUM USD

* Bitmine Immersion Technologies: A Speculative Crypto Play [https://seekingalpha.com/article/4814472-bitmine-immersion-technologies-a-speculative-crypto-play]
* Ethereum About $200 From Its All-Time Highs - Technical Outlook [https://seekingalpha.com/article/4813213-ethereum-about-200-all-time-highs-technical-outlook]
* VanEck Crypto Monthly Recap For July 2025 [https://seekingalpha.com/article/4809424-vaneck-crypto-monthly-recap-july-2025]
* Bitcoin touches another high amid risk-on sentiment, ether climbs [https://seekingalpha.com/news/4485274-bitcoin-touches-another-high-amid-risk-on-sentiment-ether-climbs]
* Ether extends rally toward record amid demand shift; bitcoin ekes out gains [https://seekingalpha.com/news/4484601-ether-extends-rally-toward-record-amid-demand-shift-bitcoin-ekes-out-gains]