As a crypto investor, I’ve been watching Bitmine, an Ethereum treasury, and it’s interesting to see them continuing to build up their ETH holdings. They’ve just made another purchase, and they’re now sitting at 86% of their target – aiming to control 5% of the total Ethereum supply. It shows a strong commitment to ETH and could potentially impact the market as they get closer to that 5% goal.
Bitmine Accumulated 101,745 ETH Over The Past Week
Bitmine recently increased its holdings of Ethereum, adding 101,745 ETH over the past week. This purchase is currently valued at approximately $237.8 million.
Bitmine, which initially focused on mining Bitcoin, shifted its financial strategy in mid-2025 to prioritize holding Ethereum, similar to the approach taken by Michael Saylor. Since making this change, the company has been actively buying up Ethereum.
Despite a downturn in the industry since the fourth quarter of 2025, the company has continued to purchase assets, resulting in significant losses on its current investments. Recently, they’ve actually increased their buying activity. Lee commented:
For the last four weeks, Bitmine has consistently increased its purchases of Ethereum, believing the recent downturn in the crypto market is nearing its end.
The company recently made another significant purchase of Ethereum, bringing its total holdings to around 5.18 million tokens. This represents almost 4.3% of all Ethereum currently in circulation.
Bitmine aims to acquire 5% of all existing Ethereum (ETH). After just ten months, they’ve already secured about 86% of that goal.
Bitmine is earning passive income from its Ethereum by participating in the proof-of-stake system, essentially locking up its ETH to help secure the network. They currently have 4,362,757 ETH staked, which makes up more than 84% of the company’s total reserves.
The company believes that a “crypto spring” is setting in, as Lee stated:
As a crypto investor, I think we’re finally seeing the start of a new bull run – what I’m calling a ‘crypto spring’. What’s interesting is that even though prices are starting to go up, a lot of investors still seem cautious or even pessimistic, which is pretty typical at the beginning of these cycles. I personally see the CLARITY Act, whether it passes or not, as a strong signal that this new phase has begun.
Bitmine holds the second-largest collection of digital assets globally, surpassed only by Strategy. Strategy has been consistently buying Bitcoin, making purchases every Monday. This Monday, Bitmine added to its holdings, but Strategy chose not to buy any.
The co-founder and chairman of Strategy announced on X (formerly Twitter) on Sunday that the company wouldn’t be purchasing any more Bitcoin this week, but would resume buying next week. Strategy currently holds 818,334 Bitcoin, which represents about 4.08% of all Bitcoin in circulation.
Ethereum ETFs experienced net outflows last week, with a total of $82.47 million leaving US-based funds, according to data from SoSoValue.
ETH Price
At the time of writing, Ethereum is floating around $2,340, up 1.2% in the last seven days.
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2026-05-05 12:57