Ethereum (ETH) Surges as BitMine Acquires 53,501 ETH and ETF Inflows Soar to $824M

Key Highlights

• BitMine Immersion Technologies acquired 53,501 ETH in its largest weekly accumulation since June, bringing total holdings to 5.901 million ETH valued at $14.63 billion.
• The company now controls 4.9% of Ethereum’s total circulating supply, nearing Chairman Tom Lee’s strategic “Alchemy of 5%” threshold.
• Spot Ethereum ETFs attracted $824 million in net inflows last week, marking the strongest performance since October.
• According to Lee, ETH delivered an outperformance of 5,430 basis points versus the S&P 500 during Q3.
• ETH currently trades around $2,450 following an approximately 33% surge throughout August, with critical support established at $2,431.

BitMine Immersion Technologies (BMNR) expanded its Ethereum treasury by 53,501 ETH over the past week, marking the company’s most substantial seven-day acquisition since June. This purchase extends BitMine’s uninterrupted buying campaign to 65 consecutive weeks, a streak that began when the firm initiated its ETH accumulation strategy on June 30, 2025.

Ethereum (ETH) Price

BitMine’s Ethereum reserves have now reached 5,901,112 ETH, representing a market value of roughly $14.63 billion. This position accounts for approximately 4.9% of Ethereum’s 120.7 million tokens in circulation, positioning the company within striking distance of its publicly stated 5% ownership objective.

Chairman Thomas Lee has dubbed this milestone the “Alchemy of 5%.” Based on current accumulation levels, BitMine has achieved about 98% of this strategic goal.

In addition to its ETH position, BitMine maintains a diversified treasury including 211 Bitcoin valued at $16.4 million, $541 million in cash and marketable securities, a $180 million investment in Beast Industries, and an $81 million holding in Eightco Holdings.

Staking Operations Generate Substantial Yield

BitMine has deployed 5,067,309 ETH to staking — representing approximately 86% of its entire Ethereum position — via its Made in America Validator Network (MAVAN) along with additional staking infrastructure partners. The company anticipates generating around $335 million in annualized staking revenue based on a seven-day yield of 2.63%, with projections showing potential earnings of $390 million if the full treasury is staked through MAVAN.

Lee highlighted ETH’s third-quarter performance as evidence of growing institutional interest. He noted that ETH has delivered a 5,430 basis point outperformance against the S&P 500 during Q3, establishing it as among the top-performing macro assets of the period.

“We believe this sets the stage for institutions to add to their crypto holdings,” Lee stated on Monday, referencing the upcoming Senate procedural vote on the CLARITY Act expected in mid-September, Korean investors shifting from AI equities into digital assets, and a possible trough in the four-year cryptocurrency market cycle.

Record ETF Demand Underpins Rally

U.S. spot Ethereum ETFs attracted net inflows totaling $824.42 million during the past week, representing the strongest weekly figure recorded since October, per SoSoValue analytics. August witnessed approximately $1.06 billion in aggregate ETF inflows, with roughly $1.4 billion entering across nine trading sessions beginning in mid-August.

Ethereum’s price climbed approximately 30% from the $1,800–$1,900 zone around August 18–19 before experiencing modest profit-taking. ETH is presently changing hands near $2,450, retreating slightly from a brief advance beyond $2,500.

BMNR shares appreciated roughly 38% throughout August in tandem with ETH’s price appreciation. The equity was trading at $25 on Monday, reflecting a 6% daily gain, though it remains approximately 45% beneath its 52-week peak of $65.60.

Technical analyst Luca from Cryptic Trades identified that ETH recently printed its first Golden Cross pattern since July 2025. He observed that when this technical indicator last emerged, ETH experienced an approximately 100% rally over subsequent weeks, which would project a target near $4,800 from present price levels.

ETH’s immediate support level is positioned at $2,431, with secondary support found at the 20-day exponential moving average and the $2,172 zone.

The post Ethereum (ETH) Surges as BitMine Acquires 53,501 ETH and ETF Inflows Soar to $824M appeared first on Blockonomi.