Bitmine Immersion, an Ethereum treasury firm, acquired 13,000 ether from BitGo on Tuesday, valued at $24.36 million, according to on-chain data.
The purchase extends Bitmine's ether buying streak to 58 consecutive weeks. The firm has added to its holdings every week since adopting its Ethereum treasury strategy in June 2025.
Last week, Bitmine acquired 7,391 ether for approximately $14.2 million, based on an ether price of $1,915 at the time. That haul was the firm's smallest weekly purchase of the year, a fraction of the 100,000-plus ETH weekly acquisitions it made earlier in 2026.
Bitmine's total ether holdings now exceed 5.8 million ETH, representing about 4.8 percent of Ethereum's total supply.
Thomas Lee, chairman of Bitmine, said earlier this year the firm planned to slow its accumulation pace as it approaches its target of owning 5 percent of ether's supply. The firm has since shifted capital toward share repurchases, buying back 3 million of its own shares last week at an estimated cost of between $50 million and $58 million based on the stock's trading range during the period. Bitmine has repurchased 19.1 million shares since July.
Beyond its ether holdings, Bitmine carries a diversified treasury: 209 bitcoin, $104 million in cash and marketable securities, and stakes in Beast Industries and Eightco Holdings.
Lee said he was disappointed by the CLARITY Act's failure to secure a Senate vote before the August recess, though he said financial markets appear more focused on recent softer inflation and jobs data. Expectations for a Federal Reserve rate hike at the September meeting have dropped to 40 percent from 75 percent two weeks ago, Lee said, adding that easing financial conditions should provide a tailwind for crypto assets.
Bitmine Immersion shares traded flat near $18.80 in pre-market trading.
