Bitmine Continues Aggressive Ethereum Accumulation
Bitmine has purchased an additional $41 million worth of Ethereum, strengthening its position as the world’s largest corporate ETH holder. According to blockchain analytics platform Lookonchain, the company acquired 25,000 ETH on Wednesday. The transaction was reportedly traced through data provided by Arkham Intelligence and linked to BitGo, Bitmine’s custody partner.
125,000 ETH Acquired in Just Three Days
The latest purchase brings Bitmine’s total Ethereum acquisitions over the past three days to 125,000 ETH. At current market prices, these purchases are valued at approximately $205 million. While the company has not yet officially confirmed the latest transactions, Bitmine typically reports treasury updates through weekly disclosures.
Closing in on Its 5% Ethereum Supply Target
Earlier this week, Bitmine revealed that it had purchased 126,971 ETH for around $207 million. Following those acquisitions, the company’s Ethereum treasury reached 5.54 million ETH. This amount represents nearly 4.6% of Ethereum’s circulating supply. Bitmine is now close to achieving its long-term goal of controlling 5% of the total ETH supply.
Bitmine Expands Holdings Despite Market Decline
Ethereum has faced significant price pressure throughout 2026, falling more than 44% since the beginning of the year. Despite the downturn, Bitmine continues to accelerate its buying strategy. Chairman Tom Lee has stated that the company believes Ethereum’s current market price does not accurately reflect its long-term fundamentals and growth potential.
