According to CoinMeta, Bitmine Immersion Technologies ( NYSE : $ BMNR ) has accelerated its stock repurchase plan and continues to purchase Ethereum ( Crypto : $ ETH ) on a weekly basis. The company's chairman, Tom Lee, stated that Bitmine has increased its $4 billion stock repurchase plan, having repurchased 4.5 million shares of BMNR in the past week, and since July 1st, more than 15 million shares have been repurchased, which is considered the largest ordinary share repurchase completed by a cryptocurrency treasury company. In the past week, Bitmine also purchased 10,399 Ethereum, bringing its holdings to nearly 5.8 million ETH, which accounts for about 4.8% of the circulating supply. The recent purchase of Ethereum amounted to $19.5 million, with the goal of owning 5% of the available Ethereum supply. Currently, the company holds 5,797,813 Ethereum, which is valued at approximately $10.9 billion at current prices. Lee believes that the shares of Bitmine are undervalued, hence the acceleration of the repurchase plan, and a price target of $2,500 per Ethereum has been set.