Bitmine buys $234 million in Ethereum in one week, pushing holdings past 5 million ETH

Bitmine Immersion Technologies said it bought $234 million worth of Ethereum last week, its biggest weekly ETH purchase of the year. The pace puts Bitmine's weekly crypto buying close to the $200 million to $300 million range that Strategy typically deploys for Bitcoin. After posting nearly $8 billion in unrealized losses earlier this year, Bitmine has stepped up Ethereum accumulation. The company now holds more than 5 million ETH, about 4.21% of circulating supply. Roughly 73% of those holdings are staked, with an estimated annualized yield of $264 million.