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BitMine Moves About 9,600 ETH to Coinbase Prime After Its Largest Weekly Purchase of 2026

The Ethereum treasury firm now controls roughly 4.534 million ETH with most of it staked as external estimates put unrealized losses near $7.8 billion.

Bitmine expands Ethereum Treasury to 4.5M ETH while buying the dip
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Bitmine moves roughly 9,600 eth worth $19.5 million to coinbase prime as ether treasury firm shuffles holdings
Bmnr stock on the verge of a rebound as bitmine ethereum buying spree continues

Overview

  • Arkham data shows two transactions of 5,300 ETH and 4,308 ETH to Coinbase Prime hot wallets, a route consistent with institutional custody, staking or rebalancing rather than confirmed selling.
  • The transfers came a day after BitMine disclosed buying 60,976 ETH last week, lifting holdings to 4,534,563 ETH, or about 3.76% of supply, with the company targeting a 5% stake.
  • BitMine reports 3,040,483 ETH staked (about 67% of its holdings) generating $174 million in annualized revenue, with potential to reach about $259 million when fully deployed and its MAVAN validator network launches in early 2026.
  • The firm lists $10.3 billion in crypto, cash and investments, including 195 BTC, $1.2 billion in cash, a $200 million stake in Beast Industries and $14 million in Eightco Holdings.
  • BMNR shares recently traded near $20 with a five‑day average dollar volume around $1.0 billion, as short seller Culper Research warns of compressed staking yields post‑Fusaka and structural risks to the strategy.