Bitmine Immersion Technologies continues to purchase Ethereum despite the decrease in the value of its formed portfolio. Over the past week, the company increased its balance by 9,946 $ETH. The previous transaction was slightly smaller, but just a month ago, individual purchase volumes significantly exceeded current indicators.
In June, Bitmine spent funds to acquire more than 52,000 $ETH. After this transaction, the intensity of accumulation decreased, but regular purchases continued. The company adheres to a strategy where Ethereum should occupy a central place in the structure of its corporate reserves.
The accumulation program started on June 30, 2025. Before its launch, Bitmine was primarily known as a Bitcoin miner. The change in direction allowed the company to transition from mining the first cryptocurrency to forming a large treasury based on Ethereum. Since then, the organization has consistently increased the number of coins on its balance sheet, not focusing on short-term market fluctuations.
After the latest purchase, Bitmine's reserves grew to 5.8 million Ethereum. However, the current valuation of the portfolio remains below the amount spent on its formation. The average acquisition cost of the coins is almost twice the market price. Therefore, the company's position remains unprofitable for now.
Unrealized losses have not deterred Bitmine. The company still intends to concentrate 5% of Ethereum's total supply on its balance sheet. This goal requires further large-scale increases in reserves, although the already accumulated volume makes Bitmine one of the largest holders of the coin.
The strategy of concentration allows Bitmine to exert noticeable influence on the structure of corporate demand for Ethereum. The continuation of purchases also indicates that management views current prices as an intermediate stage, not as a reason to exit the position.
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