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Bitmine Doubles Down on <a href="https://pricpr.com/eth-usd/">Ethereum</a> With $237M Dip Buy as <a href="https://investment-policy.com/eth-usd/">ETH</a> Slides

Key Highlights

  • Bitmine bought 111,942 ETH worth $237 million, marking its biggest purchase since December and increasing total holdings to about 5.39 million ETH.
  • The company now holds $12.3 billion in crypto, cash, and investments, including Bitcoin, cash reserves, and equity stakes in private and listed firms.
  • Bitmine has staked over 4.7 million ETH, earning about $276 million annually, while continuing its goal to reach 5% of the total Ethereum supply by 2026.

Bitmine Immersion Technologies, a company that manages cryptocurrency holdings and is headed by Tom Lee, revealed it recently bought a significant amount of Ethereum. The purchase is part of the firm’s strategy to grow its long-term cryptocurrency reserves within the U.S.

The company announced it purchased approximately 111,942 ETH, worth around $237 million, taking advantage of a recent drop in Ethereum’s price below $2,200. They continue to work towards their objective of owning 5% of all Ethereum in circulation.

Major ETH purchase during price dip

Bitmine announced its largest Ethereum purchase since December, bringing its total holdings to approximately 5.39 million ETH. This represents around 4.47% of all Ethereum currently in circulation.

Bitmine currently holds approximately $12.3 billion in crypto assets, cash, and investments. This total includes 203 Bitcoin, $444 million in cash, and investments in companies such as Beast Industries (valued at $200 million) and Eightco Holdings (valued at $95 million).

The company has staked over 4.7 million ETH, representing roughly 87% of its total ETH. This staking currently generates around $276 million annually, with a return rate of 2.75%.

Tom Lee stated that they are consistently buying Ethereum (ETH). He sees the recent price drop below $2,200 as a good chance to purchase more. The firm still anticipates owning 5% of the total ETH supply by 2026.

This recent purchase follows statements made in May 2026 at the Consensus conference in Miami, where Lee mentioned the possibility of reducing weekly buying. However, instead of slowing down, the company actually bought more Bitcoin when the price dropped from around $2,400 to nearly $2,100.

MAVAN expansion and institutional plans

As I’ve been following Bitmine, I’ve noted their expansion into staking, particularly through their MAVAN platform – that stands for Made in American Validator Network. Originally, MAVAN was built for Bitmine’s own use, but they’re now planning to extend access to larger investors and potential partners. Currently, a portion of their Ethereum holdings are already being staked via this system.

On May 25, 2026, Bitmine announced it held 5.39 million ETH, worth approximately $2,134 per token. The company claims to have the world’s largest Ethereum holdings and is the second-largest cryptocurrency treasury overall, following Strategy Inc., which primarily holds Bitcoin.

Ethereum holds steady near $2,100

Ethereum’s price hasn’t moved much recently and is currently around $2,133, a slight increase of 0.63% over the past day.

As a researcher, I’ve been tracking this asset and have observed a 9% decrease in value over the past month, falling from a peak of $2,400. Looking at the weekly chart, it appears to be stabilizing between $2,000 and $2,134, resulting in a modest gain of only 1.6% for the week.

Trading volume has risen by 14% in the past day, reaching approximately $11.84 billion. The market capitalization is currently $257 billion.

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2026-05-26 18:12