Bitmine Purchases Another $68 Million Of Ethereum
The latest purchase put the serial crypto acquirer closer to its goal of owning 5% of Ethereum's circulating supply.
Bitmine spent $68 million U.S. acquiring Ethereum over the last week, buying the digital asset at an average price of just over $2,500 U.S.
The company now owns 5,956,378 ETH, with the circulating supply at 122 million tokens worldwide.
Bitmine needs to buy another 144,000 Ethereum to hit its 5% goal and own 6.1 million of the digital tokens.
The company led by Chairman Tom Lee has added Ethereum every week since launching its crypto treasury strategy in June 2025.
On social media, Lee said that Ethereum's relative strength against Bitcoin is improving, which he called a bullish sign for the second largest crypto by market capitalization.
Lee added that a U.S. Senate vote on the Clarity Act crypto market-structure legislation that's scheduled for Sept. 15 could be a bullish catalyst for Ethereum and other digital assets.
ETH is trading at $2,504.70 U.S. on Sept. 14.
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