Bitmine bought the dip, making its biggest ether purchase in 2026 as prices tanked

MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBitmine bought the dip, making its biggest ether purchase in 2026 as prices tankedThe company bought 126,971 ETH last week, worth roughly $214 million at current prices, despite chairman Tom Lee's earlier calls to slow purchases.By Krisztian Sandor|Edited by Aoyon Ashraf Jun 8, 2026, 12:53 p.m. 2 min readMake preferred on What to know: Bitmine bought 126,971 ether last week, bringing the firm's total crypto, cash and investment holdings to $9.9 billion.That was the company's biggest weekly acquisition in 2026 despite earlier calls for slowing purchases."We increased our buying as we believe this pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals," chairman Tom Lee said.Bitmine (BMNR), the largest Ethereum treasury company, ramped up its purchases of ether (ETH) last week, making its largest weekly purchase in 2026 as crypto prices tanked.The firm bought 126,971 ETH over the past week, worth roughly $214 million at current prices, Bitmine said on Monday, compared to 26,497 tokens the previous week and nearly 120,000 ETH the week before.The purchase lifted the firm's total holdings to 5.54 million ETH, worth some $9.3 billion at current prices, according to the report. The firm also held $247 million in cash, some bitcoin and stakes in Beast Industries and Eightco Holdings.The acquisition marks a reversal from the company's previous call to slow down accumulation as it nears its goal to corner 5% of ether's outstanding supply. The company now holds 4.59% of the token's supply and is set to reach the 5% goal later this year."We increased our buying as we believe this pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals," Bitmine chairman Thomas Lee said in a statement.Bitmine has remained one of the few large digital asset treasury firms still actively adding to its crypto holdings, while most peers have halted purchases and pivo…

Bitmine bought the dip, making its biggest ether purchase in 2026 as prices tanked

Coins in this story

Related stories

Strategy buys 1,550 bitcoin, first time since selling $2.5 million worth of BTC

CoinDesk 20 performance update: NEAR gains 12.3% as almost all assets trade higher

MetaMask launches AI agent wallet with built-in security for crypto trades