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Bitmine buys $237M in Ether, nearing its 5% holding target amid Ethereum price pressure.

Market News
27 May 2026
Cointribune
View Source
Bullish
pluang ai news

Bitmine made its largest Ether purchase in 2026 by acquiring 111,942 ETH worth $237 million, increasing its total holdings to 5.39 million ETH valued at about $11.4 billion. This move brings Bitmine close to its strategic goal of holding 5% of the circulating Ethereum supply. Despite recent market losses and Ethereum trading below $2,200, Bitmine's CEO sees this as a buying opportunity aligned with a long-term strategy focused on accumulation and yield generation, especially through staking. The company also anticipates a crypto supercycle driven by tokenization and AI, while awaiting its inclusion in the Russell 1000 index, which could boost demand for its stock.

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