Bitmine Surpasses 4M ETH Holdings After $40M Buy

Ethereum treasury firm Bitmine has hit a key milestone after its Ether stash surpassed 4 million tokens this week following the agency’s newest $40 million buy.

Bitmine said on Monday that its holdings now sit at over 4.06 million Ether (ETH), with Lookonchain noting earlier within the day that the corporate purchased 13,412 ETH, price $40.61 million.

The most recent purchase takes Bitmine’s whole haul over the previous week to virtually 100,000 ETH, with the corporate including it has purchased all of its tokens at a median buy value of $2,991 every.

“Bitmine continues so as to add steadily to its ETH holdings, including 98,852 ETH up to now week, and Bitmine holdings now exceed the essential 4 million ETH tokens,” mentioned Bitmine chairman Tom Lee. “This can be a super milestone achieved after simply 5.5 months.”

With the worth of ETH climbing again to $3,000 over the weekend, Bitmine’s Ether stash has tipped again into revenue, after being within the pink for the reason that October market crash.  

The agency’s purpose is to personal 5% of the full ETH provide, with the agency highlighting a strong conviction in the asset and the Ethereum ecosystem on a number of events. 

With its current holdings, price round $12.2 billion at present costs, Bitmine is 67% of the way in which there, in response to data from Strategic ETH Reserve.

“We’re making speedy progress in the direction of the ‘alchemy of 5%’ and we’re already seeing the synergies borne from our substantial ETH holdings,” Lee mentioned. 

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Shares in Bitmine (BMNR) are up a 606% over the previous six months, with its its Ether play launched in June a serious boon for the corporate. 

The corporate has outlined plans to attach staking as a part of its Ether haul in early 2026 because it appears to be like to generate extra worth for traders.