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2w ago

BitMine Logs Largest 2026 Ether Buy, Lifting Treasury to Nearly 5 Million ETH

The move underscores BitMine’s drive to control 5% of Ethereum’s supply through aggressive accumulation.

Bitmine buys 101,627 ether worth over $230 million, its largest weekly haul of 2026
Bitmine notches 82% progress in race to own 5% of global ETH supply
Bitmine buys over 100,000 eth in largest weekly purchase since december
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Overview

  • BitMine disclosed Monday it bought 101,627 ETH last week for about $230 million, its biggest weekly purchase this year.
  • The new tokens raise its holdings to roughly 4.97 million ETH, putting the firm at about 82% of its plan to own 5% of the total supply.
  • The company has staked more than 3.3 million ETH through its MAVAN validator network, generating about $221 million in annualized rewards.
  • At its recent buying pace, the firm says it could hit the 5% target by mid-summer 2026, a timeline that depends on prices and market liquidity.
  • Recent financials showed a $3.8 billion quarterly net loss driven by fair-value marks on ETH, underscoring the risk of large, concentrated crypto holdings.