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Bitmine makes biggest 2026 ether buy, adding 126,971 ETH amid price drop, aiming for 5% supply stake.

Market News
08 Jun 2026
Coindesk
View Source
Bullish
pluang ai news

Bitmine purchased 126,971 ether (ETH) last week, its largest weekly buy in 2026, spending about $214 million as ETH prices fell. This increased Bitmine's total holdings to 5.54 million ETH, worth around $9.3 billion, bringing it closer to its goal of owning 5% of all ether tokens. Despite earlier advice to slow purchases, Bitmine's chairman Tom Lee said the price drop does not reflect Ethereum's strong fundamentals. The company remains one of the few major crypto treasury firms still buying amid a market downturn, though it faces significant paper losses due to ETH's price decline since last year.

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