Bitmine Returns To Aggressive Ethereum Buys As Price Dips

CryptoProwl

Mon, May 18, 2026 astatine 10:29 AM CDT 1 min read

Bitmine Immersion Technologies (NYSE: $BMNR) is erstwhile again aggressively buying Ethereum (CRYPTO: $ETH) arsenic the terms slumps. 

The crypto Treasury institution bought $154 cardinal U.S. worthy of Ethereum implicit the past week, arsenic the institution took vantage of rising lipid prices that sent crypto prices lower.

Bitmine acquired 71,672 ETH, a crisp summation from the erstwhile week's 26,000 purchase. 

More From Cryptoprowl:

• Ripple, The Company Behind XRP, Is Valued At $50 Billion

• Eightco Secures $125 Million Investment From Bitmine And ARK Invest, Shares Surge

• Blockchain Projects Decline 75% As Developers Shift To A.I.

• Stanley Druckenmiller Says Stablecoins Could Reshape Global Finance

• New York Stock Exchange Invests $600 Million In Polymarket

“We presumption the caller pullback of ETH to beneath $2,200 arsenic an charismatic opportunity,” said Bitmine Chairman Tom Lee connected societal media.

Lee added that rising crude lipid prices are the main origin pressuring ETH’s terms currently. 

“ETH inverse correlation to lipid is the highest ever,” helium wrote connected societal media. 

Bitmine has remained 1 of the fewer crypto treasury firms to inactive accumulate Ethereum during the caller marketplace downturn.

The latest acquisition raised Bitmine’s ETH holdings to 5.28 cardinal integer tokens, oregon astir 4.37% of Ethereum’s full circulating supply. 

The institution has a stated extremity to ain 5% of Ethereum’s circulating supply. 

BMNR banal has declined 39% this twelvemonth to commercialized astatine $18.95 U.S. per share.