BitMine Immersion Technologies Nears 5% Ethereum Treasury Goal

BitMine Immersion Technologies reported holding 6,001,302 ETH as of September 28, requiring an additional 103,698 ETH to reach its 5% supply target. At the September 27 reference price, this acquisition would cost approximately 279.8 million dollars, representing about 42% of the company's 672 million dollars in cash and marketable securities. While the company has purchased ETH weekly since June 2025, the pace of acquisition slowed recently as management balanced token purchases with share repurchases. A DWF Labs study highlights that treasury company stock valuations relative to crypto holdings are becoming increasingly critical for future capital allocation strategies.