Bitmine Adds 111,942 ETH as Ethereum Dip Below $2,200 Triggers Buying Spree

Bitmine Immersion Technologies increased its Ethereum holdings after the price of Ethereum dropped below $2,200. The company bought 111,942 ETH in a single week, using the lower price as an entry point. Chairman Tom Lee said the decline was seen as an “attractive opportunity” and said the firm still expects a long term crypto “supercycle” driven by tokenization on Wall Street and growth in agentic AI systems.

Ethereum treasury size and supply target progress

Bitmine now holds 5.39 million ETH, worth about $11.4 billion at current prices. This puts the company about 89% of the way toward its goal of owning 5% of Ethereum’s total supply. The firm also reported more than 4.7 million ETH is staked, valued near $10.1 billion.

Ethereum fell from above $2,400 earlier in the month to around $2,115, down nearly 30% year to date. The drop came after profit-taking and wider market pressure.

Strategy remains the largest crypto treasury holder, with Bitmine ranked second. Shares of Bitmine rose about 4% to $19.66 as investors tracked its growing ETH exposure and steady accumulation plan.