Ethereum treasury company Bitmine Immersion added more of the token to its balance sheet, bringing its total holdings up to 5.815 million tokens.
In an announcement Monday, the company led by Chairman Tom Lee said it bought another 9,926 $ETH last week, continuing its streak of weekly buys that began in June 2025 when the company launched.
Bitmine, which trades under the ticker BMNR, now holds 4.8% of $ETH’s total supply with its tokens worth about $11 billion at the current price of $1,904.
Lee said the $ETH/BTC ratio has broken above a years-long downward trend, which he sees as a sign that investors are starting to price in growing demand for Ethereum from tokenization and AI-agent applications.
On the macro front, he expects “easing financial conditions to be a tailwind for crypto,” he said in a statement.
$ETH is up about 1.6% over the past 24 hours while BMNR is trading more than 2% higher today.
The company also bought an additional 1.7 million shares of its own stock last week, now owning 20.8 million shares under a previously authorized $4 billion buyback program.