Bitmine Scoops Up Another 9,946 ETH!

​The race to accumulate Ethereum is heating up. Bitmine (BMNR), the world’s largest corporate Ethereum treasury, is aggressively adding to its massive stash as Chairman Tom Lee points to a major shift in market dynamics.
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​The Buy: According to a Monday update, Bitmine purchased 9,946 ETH (worth roughly $19.4 million) last week, stepping up from the 7,430 ETH they acquired the week prior.

​The Treasury: This latest purchase pushes Bitmine's total holdings to a staggering 5,787,414 ETH valued at around $11.2 billion.

​The 5% Goal: Bitmine now officially controls approximately 4.8% of Ethereum's total circulating supply, putting them incredibly close to their long-term strategic target of holding 5% of all ETH in existence.

​Stock Buybacks: Alongside their crypto buys, Bitmine also accelerated their stock buybacks, repurchasing 6.1 million shares under their massive $4 billion authorization.

​ Tom Lee on the ETH/BTC Ratio
​Bitmine Chairman Tom Lee remains highly bullish on the market's trajectory, largely due to Ethereum's relative strength against Bitcoin.

​The Ratio Breakout: Lee highlighted that the ETH/BTC ratio recently hit a three-month high of 0.3000. He views this rising ratio as a massive signal that overall crypto prices are strengthening and risk appetite is returning to the market.

​Outperformance: Over the past month, Ethereum has surged roughly 24%, vastly outperforming Bitcoin's 8% gain and hitting a 10-week high on Monday.

​Next Targets: According to Lee, with market sentiment improving, the next major technical levels to watch for ETH are $2,000 and $2,500.