In a still unstable crypto market, Bitmine is attracting attention again with a major purchase of ETH. The company added 25,000 tokens to its treasury, worth over $50 million at the time of the transfer. This move comes as Ethereum attempts to stay above $2,000, despite bearish signals and continued volatility.
In brief
- Bitmine added 25,000 ETH to its treasury, worth over $50 million at the time of purchase.
- The operation was completed in a single large transfer from Kraken, according to data reported by Lookonchain.
- This new purchase comes after a broader acquisition of nearly $237 million from Ethereum a week earlier.
- Ethereum remains under pressure around the $2,000 threshold, despite signs of near-term recovery in the crypto market.
Bitmine strengthens its reserves with 25,000 ETH
Bitmine is accelerating its accumulation strategy with a one-time purchase of 25,000 ETH, according to data provided by Lookonchain. The transaction reached $50,413,250 at the price of the token during the operation. It took the form of a single large transfer from Kraken, a large cryptocurrency exchange.
The movement therefore shows a massive withdrawal of tokens to the company's treasury. For market observers, this choice may signal storage intended for reserves rather than immediate resale. This type of movement remains easy to track, as large transactions quickly appear in on-chain monitoring tools.
This operation comes about a week after a larger purchase. Bitmine then acquired nearly $237 million worth of Ethereum, its largest weekly purchase recorded so far in 2026. Thus, the company is pursuing an accumulation strategy that remains visible on the blockchain. It operates despite a weak market, which makes every cash movement more closely monitored by crypto players.
In this context, Bitmine maintains its status as the largest treasurer linked to this asset in the world. His continued purchases, regardless of market conditions, have attracted many favorable comments in the crypto community. However, these transactions alone do not change the market trend. Above all, they confirm a desire to strengthen reserves, even when prices remain under pressure.
Ethereum remains under pressure in a volatile market
We must also place this purchase in a still uncertain environment. Ethereum is still showing bearish signals and is struggling to stay above $2,000 sustainably. At the time of writing, the price of ETH is hovering around $2032, despite this, Bitmine made its purchase without waiting for a complete return of confidence. The market therefore remains attentive to the behavior of the main holders and the outflows from the platforms.
Recent volatility has led some observers to suggest a possible bottom near $1,000 if the decline continues. However, the cryptocurrency market is also showing signs of recovery in the short term. This improvement allowed Ethereum to stay above $2,000. The threshold therefore remains crucial, because it helps measure the strength of the current rebound. In this phase, investors mainly follow support levels, volumes and the market's ability to absorb sales.
Bitmine's purchase of 25,000 ETH confirms the company's confidence in the long-term potential of Ethereum, despite a still fragile market environment. While many investors remain cautious in the face of Ether's current volatility, this new accumulation illustrates the offensive strategy adopted by certain institutional players. The coming weeks will determine whether these repeated purchases precede a more sustainable recovery phase or whether they simply constitute a bet on a future rebound.
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