Bitmine Goes on an ETH Shopping Spree

Looks like Bitmine has been hitting the ETH jackpot lately! This Ethereum treasury company just scooped up a whopping 71,179 ETH in a single week, lifting its share to an impressive 3.92%. Talk about a shopping spree!

Big Bucks in the Crypto World

The total value of this ETH binge? Around $146 million! No small change! This purchase not only supersedes Bitmine’s usual weekly average but also shows their commitment to accumulating Ethereum while the going gets tough.

From Bitcoin to Ethereum: The Pivot

Originally a Bitcoin mining pro, Bitmine switched gears to focus on Ethereum back in mid-2025. Following in the hefty footsteps of crypto mogul Michael Saylor, they’ve been stacking ETH like it’s going out of style—even through the not-so-chilly ‘mini-crypto winter.’ Thomas “Tom” Lee, Bitmine’s chairman, is all about that ETH life!

Crypto in a Crisis

With the ongoing drama in Iran, the crypto sector has seen its fair share of jitters. But wait—Lee says ETH is outperforming traditional stocks by a staggering 1,160 basis points. Meanwhile, gold—everyone’s old reliable—has dropped behind by over 750 basis points. Lee is confident: “Crypto is proving to be a solid ‘war-time’ store of value.” Seems like ETH is catching some good vibes!

Setting Ambitious Goals

With the latest buy, Bitmine’s ETH reserves have now ballooned to a massive 4,732,082 ETH. That’s nearly 4% of all circulating Ethereum out there! And guess what? They’re eyeing a 5% target, which means they’re already 78% there after just eight months.

Staking for Sweet Passive Income

But that’s not all folks! Bitmine is also throwing its ETH into staking for some extra moolah through the Proof-of-Stake (PoS) contract. Unlike Bitcoin where miners do all the heavy lifting, ETH goes the staker route—those brave validators who put their skin in the game. Stakers earn rewards just like miners do. Easy peasy!

Leading the Staking Charge

According to Lee, Bitmine has staked a jaw-dropping 3,142,643 ETH, making up 66% of their ETH holdings. That’s more than pretty much any other player out there!

Everyone’s Getting in on the Action

And they’re not alone! The Ethereum Foundation has also jumped aboard the staking train, transferring a sweet $46.2 million worth of ETH into the staking contract. As pointed out by Arkham, it’s the highest amount they’ve ever staked! They’re not holding back, either!

Market Movements

Ethereum dipped below the $2,000 mark recently, but hey— it’s pepped up and is now strutting back above $2,060 as we start a new week!