BitMine Immersion Technologies made its largest weekly ether purchase since June, adding 53,501 ETH worth about $131 million and lifting total holdings to 5,901,112 ETH. At a $2,511 reference price the position is valued near $14.8 billion, equal to roughly 4.9% of Ethereum’s circulating supply and about 98% of the firm’s self-described Alchemy of 5% ownership target. The buy extends an unbroken streak of weekly ETH purchases to 65 weeks since June 30, 2025. Chairman Tom Lee said ether has outperformed the S&P 500 by 5,430 basis points this quarter. BitMine has staked 5,067,309 ETH, or about 86% of its stack, through its MAVAN network, with prior disclosures pointing to hundreds of millions of dollars in projected annualized staking revenue. The broader treasury snapshot still includes 211 Bitcoin, cash and securities, and equity stakes that management previously valued at a combined $15.6 billion, while spot ether ETFs recently recorded heavy weekly inflows. Ethereum was consolidating near $2,450, inside a tight range just below $2,550 resistance, as markets weigh whether sustained institutional buying can force a breakout.