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22h ago

On-Chain Data Links $113 Million ETH Purchase to BitMine as Treasury Tops 3.3 Million

The firm is pursuing a 5% share of Ethereum’s supply, making it the largest corporate holder with notable institutional backing.

Bitmine boosts ethereum treasury with $113m as price holds above $4,000
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Overview

  • Lookonchain, using Arkham data, attributed a 27,316 ETH buy via a BitGo-linked wallet to BitMine; the company has not independently confirmed the transaction.
  • BitMine disclosed earlier this week that its Ethereum holdings now exceed roughly 3.3 million ETH, valued at about $13.2–$13.3 billion at recent prices.
  • The stake represents about 2.8% of circulating ETH as the company advances toward its stated target of owning 5% of supply.
  • Ethereum traded near $4,000 during the reports, with short-term volatility following large treasury activity and a recent market pullback.
  • Reported backing includes ARK Invest, Galaxy Digital, Kraken, Pantera, Founders Fund, Bill Miller III, and DCG, while the firm cites a total portfolio near $14.2 billion including 192 BTC, an Eightco stake, and cash.