The crypto market is closely following the new massive purchase made by Bitmine. The publicly traded company added nearly $237 million in Ether to its balance sheet, as the Ethereum price remains under pressure. This transaction marks its largest purchase of ETH in 2026 and brings the company closer to its strategic holding goal.
In brief
- Bitmine purchased 111,942 ETH, worth over $237 million.
- The company now holds 5.39 million ETH, close to its 5% target.
- Ethereum remains at the center of its strategy, with a large part placed in staking.
- The market is monitoring BMNR stock and the impact of its inclusion in the Russell 1000.
Bitmine accelerates with 111,942 ETH added to its balance sheet
Despite its recent heavy losses, Bitmine acquired 111,942 ETH last week. With this operation, the company increases its holdings to 5,390,404 ETH, for a value close to $11.4 billion, based on a market price around $2,117 on Tuesday morning.
This new position announced on Monday places Bitmine among the players most exposed to ETH. The company now holds more than 4.4% of the circulating supply. It is thus getting closer to its objective of 5%, which its president Tom Lee plans to achieve during 2026.
However, the manager had recently indicated that he wanted to slow down the pace of purchases. He did not want to reach this symbolic threshold too quickly. However, with ETH below $2,200, Bitmine saw a buying window to strengthen its reserve.
Ethereum remains at the heart of the treasury strategy
The company continues to build its strategy around Ethereum, despite the recent market decline. Tom Lee explained that the company is still anticipating a crypto supercycle, driven by Wall Street tokenization and artificial intelligence. He has declared :
We continue to anticipate a supercycle for cryptocurrencies and Ethereum, fueled by Wall Street tokenization and artificial intelligence. This is why we continue our regular ETH acquisitions, with BitMine now holding almost 5.4 million ETH tokens.
Tom Lee, CEO of BitMine. Source: Decrypt.
In this context, Bitmine continues its regular acquisitions of ETH. The company presents this approach as a long-term strategy, focused on the accumulation and yield of its tokens. The choice of Ethereum also reflects its role in the uses linked to tokenized assets.
Of the 5.39 million ETH held, more than 4.7 million are staked. These tokens pass through Made in America Validator Network, the MAVAN industrial platform. According to the figures provided, this activity could generate more than $276 million in annualized revenue.
This share at stake represents nearly 10 billion dollars. It shows that Bitmine does not only keep its tokens in reserve. The company also seeks to generate revenue related to network validation.
Market, BMNR action and integration into the Russell 1000
BMNR stock is up about 3.3% since the open, trading around $19.51. Despite this rebound, the stock remains down nearly 12% over one month. It also fell by more than 38% over the last six months of trading.
At the same time, Bitmine is awaiting its upcoming integration into the Russell 1000 index. This index tracks the 1,000 largest American companies. Before this entry, Tom Lee discussed possible automatic demand from passive index funds and ETFs.
However, the company's main assets remain under pressure. Ethereum has lost 2% over the last 24 hours, around $2,078. It also shows a drop of more than 11% over one month and remains far from its historic record in August, established at $4,946.
Bitmine's trajectory will therefore depend on two elements: the evolution of the price of ether and its ability to reach its objective of 5% without excessive acceleration. In the short term, the market will mainly observe the effect of the integration into the Russell 1000 and the next ETH purchase movements.
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