Home/News/Bitmine buys 28k ETH, completes 97% of treasury accumulation goal

Bitmine buys 28k ETH, completes 97% of treasury accumulation goal

MGBX Editorial Team4

While Bitmine’s completed 97% of its goal to acquire 5% of Ether’s supply, Tom Lee’s team faces a $5.1 billion unrealized loss on its main treasury a

NewsBriefsETHEthereumCryptocurrency News
This article is for informational purposes only and does not constitute investment advice. Digital asset markets are volatile; manage risk carefully.
Bitmine buys 28k ETH, completes 97% of treasury accumulation goal - ETH

Details

While Bitmine’s completed 97% of its goal to acquire 5% of Ether’s supply, Tom Lee’s team faces a $5.1 billion unrealized loss on its main treasury asset.

Bitmine Immersion Technologies, the largest corporate Ether holder, announced another purchase of the second-biggest crypto, bringing the company closer to management’s goal of accumulating 5% of the total supply.

Bitmine acquired 28,086 Ether (ETH) last week, according to a Tuesday announcement , which is currently worth about $69.5 million. The purchase brings Bitmine’s total holdings to 5.93 million Ether acquired at an average price of $2,495 per ETH.

Bitmine reported $15.7 billion in total assets, including $593 million in marketable securities, cash, other crypto holdings and 5.1 million in staked ETH, which is expected to generate $330 million in annualized staking revenue .

Following the purchase, Bitmine said it completed 97% of its goal to acquire 5% of the total Ether supply within 15 months. Led by chairman Tom Lee, the company announced a 53,501 ETH acquisition last week, pushing its holdings to account for 4.9% of Ethereum’s 120.7 million circulating supply.

Bitmine ranks as the world’s largest publicly listed Ether treasury. The company is currently facing $5.1 billion in unrealized losses on its ETH holdings, according to Dropstab data . Ether’s price fell 16% since the beginning of 2026 and was trading at $2,469 at 1:29 pm UTC on Tuesday, according to CoinMarketCap .

The company’s NYSE-traded BMNR stock price was down more than 2% at Tuesday’s market open, poised to extend its year-to-date decline into double digits, according to Yahoo Finance .

Related: Tom Lee says ‘mini crypto winter’ is over, sees Ether above $60K

Subscribe to daily byte-sized crypto news from Cointelegraph

Ethereum Foundation names 2 ‘must ship’ EIPs for Hegotá upgrade

Ether, XRP ETF inflow streaks end as Bitcoin funds rebound

Bitmine now controls 4.9% of Ethereum supply after adding 53.5K ETH

Ethereum Foundation names 2 ‘must ship’ EIPs for Hegotá upgrade

Ether, XRP ETF inflow streaks end as Bitcoin funds rebound

Bitmine now controls 4.9% of Ethereum supply after adding 53.5K ETH

Strategy skips Bitcoin buy to repurchase $176M of STRC preferred shares

Bitcoin faces key support test at $78.3K as US crude oil hits three-month high

Token buybacks are booming. But are they good for crypto projects?

Uzbekistan begins government bond-backed stablecoin payment pilot

Mexico quadruple homicide tied to alleged Bitcoin robbery attempt

Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.

All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy .

ETH

Source

Cointelegraph RSS

Source: Cointelegraph RSS