Bitmine added nearly 10,000 Ether last week, bringing its total holdings to 5.79 million ETH. The purchase represents about 4.8 percent of Ethereum's circulating supply.
Bitmine purchased 9,946 ETH in the past week, lifting its treasury to 5,787,414 Ether valued at $11.2 billion. The company, the largest Ethereum treasury holder, continues to pursue a long-term target of controlling 5 percent of the supply.
Chairman Tom Lee highlighted the recent outperformance of Ether against Bitcoin. The ETH/BTC ratio reached a three-month high of 0.3000, which he described as a positive signal for crypto prices despite delays on the CLARITY Act.
Bitmine also expanded its share repurchase program, buying back 6.1 million shares under a $4 billion authorization. Ether gained 24 percent over the past month, outpacing Bitcoin's 8 percent rise, according to CoinDesk data.
