Bitmine Immersion Technologies bought another 9,587 ETH worth roughly $20 million, extending its weekly purchasing streak and lifting its treasury to 6,070,092 ETH. The holdings were valued at about $13.6 billion using a reference price of $2,234 and represented 4.97% of Ethereum’s 122.2 million-token supply, putting Bitmine 99% of the way toward its 5% target, known as the Alchemy of 5%. The NYSE-listed company has bought ETH every week since launching its treasury strategy on June 30, 2025. Chairman Tom Lee said Ethereum co-founder Vitalik Buterin’s description of ETH as money and a store of value supports the strategy and Ethereum’s role in institutional tokenization and artificial intelligence. Bitmine’s total holdings, including cash, other tokens and strategic investments, reached $14.3 billion as of Nov. 8. The portfolio included 216 Bitcoin, $475 million in cash and marketable securities, a $180 million stake in Beast Industries and $75 million in Eightco Holdings. Bitmine said 5,227,037 ETH, or about 86% of its holdings, was staked through its MAVAN platform, with projected annualized staking revenue of about $359 million. The company remains the largest Ethereum treasury and the second-largest crypto treasury overall, behind Strategy, which holds about 849,327 BTC, according to the release.