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BitMine buys $70M more Ethereum, nearing 5% of total ETH supply held.

Market News
08 Sep 2026
Coingape
View Source
Bullish
BitMine buys $70M more Ethereum, nearing 5% of total ETH supply held.

BitMine Immersion Technologies has purchased an additional $70 million worth of Ethereum, acquiring 28,086 ETH in the past week. This brings BitMine's total Ethereum holdings close to 5% of the entire ETH supply, currently at 4.9%. Chairman Tom Lee remains optimistic about Ethereum's future, highlighting its strong performance in Q3 2026 and positive market catalysts ahead. BitMine also benefits from staking revenue, with over 5 million ETH staked generating an estimated $330 million annually.

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Ethereum price stays below $2,500 amid Fed rate hike uncertainty and weak momentum.

Ethereum price stays below $2,500 amid Fed rate hike uncertainty and weak momentum.

Ethereum traded near $2,475 on September 8, dropping about 0.7% as it remained stuck in a narrow range between $2,450 and $2,550. The market is cautious due to uncertainty over the Federal Reserve's potential interest rate hike, following stronger-th...

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Ethereum aims for quantum-resistant base layer by December 2029 to secure future blockchain safety.

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Justin Sun redeems 10,000 ETH from Lido, moves $12.3M to Poloniex exchange he backs.

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Uniswap's annualized UNI burn rate surpasses $250M amid rising decentralized exchange volume.

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