Bitmine Immersion Technologies, associated with chairman Tom Lee, is increasing its Ethereum treasury through large spot purchases. Multiple outlets report that the company buys additional ETH week to week, including one notably large buy that takes its holdings to more than 5.6 million ETH.

The reports vary on the exact purchase size and dollar value, reflecting different measurement points and “current price” conversions. CoinDesk and Cointelegraph cite large weekly buys in the range of about 111,000 to 127,000 ETH, translating to roughly $214 million to $237 million at the time referenced. Decrypt and Yahoo Finance also describe additional ETH purchases—such as about 10,399 ETH—bringing total holdings to around 5.8 million ETH and totaling more than $10 billion in value, depending on the ETH price used.

Some coverage highlights that the firm continues buying despite indications of large unrealized paper losses on its holdings, while others emphasize Lee’s remarks about potential market recovery, including references to a “crypto spring” or broader “supercycle” themes. Decrypt also notes that the company pairs the treasury expansion with a stock buyback goal tied to accumulating a target share of Ethereum’s circulating supply.