BitMine Immersion Technologies has significantly bolstered its Ethereum holdings, acquiring 40,613 ETH in just one week. This recent purchase brings the company's total treasury to 4,325,738 ETH, valued at approximately $9.2 billion. With this acquisition, BitMine now owns 3.58% of the circulating ETH supply, making it the largest corporate Ethereum treasury globally. The company is on track to meet its "Alchemy of 5%" target, having achieved 72% of this goal in just six months. Tom Lee, BitMine's Executive Chairman, highlighted that the acquisition occurred while ETH's price remains 62% below its peak from 2025. He pointed out that despite the lower price, Ethereum's utility is at an all-time high, with daily transactions reaching 2.5 million and active addresses hitting 1 million. Lee believes that significant investment opportunities often arise during market declines and expects ETH to follow its historical trend of rapid recoveries after such downturns. He argues that the current price does not reflect Ethereum's potential as a foundational element of future finance.