Bitmine Immersion Technologies bought another 12,535 ether, extending an uninterrupted weekly run of purchases into this week. The company now holds 6,041,481 ETH. It's still a long way from its stated target of controlling 5% of Ethereum's total supply.
The disclosure came without a price tag attached to the latest tranche, but the pattern is clear: Bitmine keeps buying, week after week, regardless of where the market sits.
The weekly cadence
There's no mystery to the strategy. Bitmine has been adding ETH on a weekly schedule, and this week's 12,535 tokens fit the same mold. The company hasn't broken the streak, which suggests the treasury plan is running on a calendar rather than a price trigger.
That's a notable distinction for a public company holding this much ether. A buyer that shows up every week regardless of headlines is making a different kind of bet than one that waits for dips.
Tom Lee's AI explanation
The purchases landed as Tom Lee, Bitmine's chairman and a co-founder of Fundstrat, blamed a recent crypto market dip on fears tied to AI. Lee's read is that AI anxiety has been spilling into digital asset sentiment.
He didn't tie that view to a pause in buying. Bitmine's behavior this week says the opposite — the treasury kept adding.
Chasing 5% of Ethereum
Bitmine's stated goal is to control 5% of Ethereum's total supply. With 6,041,481 ETH on the books, the company is running a long campaign, and the weekly purchases are the mechanism.
Whether that target is reachable depends on the supply figure it's measured against and how long Bitmine is willing to keep the schedule. Neither is spelled out in the latest disclosure. What is clear: the buying hasn't stopped.
What to watch
The next checkpoint is next week's purchase. If Bitmine breaks its streak, that would be the first real signal that the plan has changed. Until then, the company's treasury keeps growing at a steady, unglamorous clip.
