Bitmine Immersion Technologies, managed by Tom Lee and specializing in treasury asset management in Ethereum, resumed Ether purchases last week, moving closer to its key business goal — owning 5 percent of the supply of the second‑largest cryptocurrency. On Monday, the organization announced that it had acquired 9,926 ETH coins during the week ending on August 16, bringing its total assets to approximately 5.82 million ETH, which accounts for about 4.8 percent of Ethereum’s circulating supply. At an estimated price of $1,893 per ETH, Bitmine’s assets were valued at approximately $11 billion.

The latest purchase brought Bitmine closer to its long‑term strategic goal called “Alchemy Five Percent,” which involves holding 5 percent of the entire ETH supply. However, the company’s confidence was seriously tested due to the prolonged bear market in Ethereum, which sharply reduced the value of the organization’s treasury digital assets. A significant portion of the ETH coins was acquired by the company at substantially higher prices. According to industry data, Bitmine’s unrealized losses on its Ethereum assets exceed eight billion four hundred million dollars.

On Monday, the price of Ethereum remained virtually unchanged and stood at slightly over one thousand nine hundred dollars.

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The material has been prepared solely for informational and educational purposes and does not constitute financial advice or a recommendation.