Bitmine Makes Biggest Ethereum Purchase Of 2026

CryptoProwl

Mon, June 8, 2026 astatine 8:53 AM CDT 1 min read

Bitmine Immersion Technologies (NYSE: $BMNR) made its biggest Ethereum (CRYPTO: $ETH) acquisition of the twelvemonth arsenic the cryptocurrency's terms collapsed implicit the past week.  

Bitmine, which is the largest Ethereum treasury institution successful the world, bought 126,971 ETH implicit the past week, worthy $214 cardinal U.S. astatine existent prices.

That compares to 26,497 Ethereum tokens purchased the erstwhile week. 

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The latest acquisition comes arsenic the terms of ETH dropped beneath the cardinal enactment level of $2,000 U.S. and is present trading astatine $1,690 U.S. 

Bitmine owns 5.54 cardinal Ethereum worthy $9.3 cardinal U.S. astatine existent prices. The steadfast besides has $247 cardinal U.S. of currency connected hand.

In caller weeks, the company, led by Chairman Tom Lee, had talked of slowing its ETH accumulations arsenic it nears its extremity of owning 5% of Ethereum's circulating supply. 

Bitmine presently owns 4.59% of Ethereum's proviso and is acceptable to scope its 5% extremity aboriginal this year.

"We accrued our buying arsenic we judge this pullback successful ETH prices does not bespeak the strengthening of Ethereum fundamentals," said Lee connected societal media.

Bitmine is present sitting connected an estimated $9.6 cardinal U.S. of insubstantial losses arsenic ETH falls to its lowest level successful much than a twelvemonth and is down 65% from an all-time precocious reached past August. 

BMNR banal has fallen 49% this twelvemonth to commercialized astatine $15.90 U.S. per share.