Bitmine bought another 12,532 ETH last week, keeping its streak of consecutive weekly purchases alive. The company's total holdings are now approaching 6.03 million ETH. That's not a typo — the treasury is measured in millions, not thousands, and it keeps growing on a regular schedule.
The streak keeps going
This wasn't a one-off buy. Bitmine has been adding ETH week after week, and last week's 12,532 ETH purchase is the latest link in that chain. The company hasn't signaled any plan to slow down. For a corporate treasury, that kind of consistency is unusual. Most firms announce a big buy, take a victory lap, then go quiet for a quarter. Bitmine just keeps filing the same kind of purchase, week after week.
The cumulative result is a pile approaching 6.03 million ETH. To put the scale in context without reaching for dollar figures — which move around too much to be useful here — that's a position built through repetition rather than one headline-grabbing move.
Tom Lee's call on BMNR
Chairman Tom Lee used the occasion to make a prediction about the company's stock. He said BMNR will outperform the crypto bull market. That's a direct claim from the top of the company: the equity, in his view, does better than the underlying asset class it's tied to.
It's a bold framing. A crypto treasury company's stock often trades as a leveraged play on the asset it holds, and leverage cuts both ways. Lee is betting that the market will reward BMNR's structure — and its steady accumulation — more than it rewards simply holding ETH. He didn't offer a timeline or a specific target. The prediction stands on its own for now.
Why the weekly cadence matters
There's a practical angle to buying in small, regular chunks instead of one giant purchase. It smooths out the entry price over time. It also gives the market a predictable signal: every week, more ETH leaves the open market and goes into Bitmine's treasury. Traders who watch supply dynamics pay attention to that kind of pattern.
The flip side is that a company committed to weekly buying needs the cash flow or credit to sustain it. Bitmine hasn't disclosed how it funds the purchases, and last week's filing didn't break that down either. That's an open question worth watching as the holdings number climbs.
What to watch
The next data point is the following week's purchase. If the streak continues, Bitmine will cross the 6.03 million ETH mark, and the market will start asking how high the company intends to go. Lee's stock call will also get tested by how BMNR trades against ETH itself. If the stock lags the asset, his prediction looks worse with each passing week. If it leads, he gets to say he called it.
For now, the only certainty is the pattern: another week, another buy. Bitmine hasn't given any indication that the streak is about to end.
