Bitmine Acquires 71,524 ETH, Largest Corporate Holder

Bitmine Immersion Technologies announced on Monday that it acquired 71,524 Ethereum over the past week, its largest weekly purchase since December 2025, bringing the company's total holdings to approximately 4.87 million ETH. The addition positions Bitmine as the largest corporate holder of the cryptocurrency, accounting for about 4 percent of Ethereum's circulating supply of roughly 120.7 million tokens, as the firm advances toward a stated goal of controlling 5 percent.

The purchase, valued at around $156 million at an average price of about $2,186 per ETH, reflects Bitmine's accelerated accumulation strategy launched nine months ago. Company Chairman Tom Lee described the move as part of a broader commitment to Ethereum's role in institutional finance. "Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains," Lee said in a statement. He highlighted Ethereum's recent performance amid escalating geopolitical tensions, including the ongoing Iran conflict now in its seventh week and related developments like the U.S. Hormuz blockade. Since the conflict...