Woofun AI reports that Bitmine Immersion Technologies, led by Tom Lee, maintained its Ethereum treasury strategy by executing another weekly purchase of Ether (ETH), reinforcing its position as a dominant corporate holder amid a broader market recovery.

The firm disclosed the acquisition of 32,447 Ether, elevating its total inventory to 5,847,611 ETH, which constitutes approximately 4.8% of the circulating supply. This transaction extends an unbroken accumulation streak dating back to the strategy's launch on June 30, 2025, spanning roughly 14 months.

Structurally, the company is now 97% of the way toward its target of owning 5% of the ETH supply, having staked 5.07 million ETH, or about 87% of its holdings. Per Woofun AI, the company reported combined crypto, cash, securities and other investments of $14.9 billion, while its NYSE-traded shares opened up about 8.7%, poised to extend their almost 28% gains over the past six months.

The latest purchase coincided with a sharp rally across Ether and the broader cryptocurrency market, driven partly by macroeconomic shifts. ETH has outperformed Bitcoin since last Wednesday, when the US Treasury announced plans to double its monthly purchases of certain longer-dated US Treasurys to $4 billion from $2 billion beginning next month. Ether has gained more than 32% since the announcement, breaking above $2,500 for the first time since January.

Bitmine's aggressive Ether purchases during the market downturn left the company sitting on steep unrealized losses as ETH prices continued to fall, but the recent recovery has significantly narrowed that shortfall. The firm has invested more than $19.5 billion in its Ether treasury, with paper losses falling to below $5 billion from more than $8.4 billion roughly a week ago. These sharp swings highlight the challenges of managing digital asset treasuries, whose valuations can fluctuate significantly with changing market conditions.