In a bold move reflecting ongoing confidence in the cryptocurrency market, Bitmine, a prominent Ethereum treasury company, has announced its acquisition of 71,179 ETH over the past week, raising its total supply share to 3.92%. This strategic purchase is valued at approximately $146 million and surpasses the firm’s average weekly accumulation.
Bitmine’s Aggressive Accumulation Strategy
According to a recent press release, Bitmine has been intensifying its Ethereum purchasing activities, consistently acquiring ETH over the last four weeks. Chairman Thomas “Tom” Lee noted the company’s anticipation that Ethereum may be nearing the end of what he termed the “mini-crypto winter.” This comes as the cryptocurrency sector grapples with geopolitical tensions, particularly the ongoing conflict in Iran, which has led to a high degree of uncertainty. Lee highlighted that despite these circumstances, Ethereum has outperformed traditional equities by 1,160 basis points, while gold—a conventional safe haven—has lagged behind by over 750 basis points. “Crypto is demonstrating itself to be a good ‘war time’ store of value,” remarked Lee.
Bitmine, originally focused solely on Bitcoin mining, pivoted to an Ethereum treasury strategy in mid-2025, in line with the accumulation strategies adopted by prominent figures in the cryptocurrency space. The company aims to increase its Ethereum holdings to 5% of the total supply, and it has achieved over 78% of this goal within a short span of eight months.
Beyond mere accumulation, Bitmine is also utilizing its ETH assets for staking via the Ethereum Proof-of-Stake (PoS) contract to generate passive income. Unlike Bitcoin, which relies on miners for network security, Ethereum now employs stakers—validators who contribute initial stakes to participate in consensus. Stakers receive rewards akin to those earned by miners, reinforcing the incentive for long-term holding.
Currently, Bitmine has staked an impressive 3,142,643 ETH, amounting to 66% of its total reserves. “Bitmine has staked more ETH than any other entity globally,” stated Lee, underscoring the firm’s significant commitment to Ethereum.
Bitmine is not alone in its staking pursuits; the Ethereum Foundation, an organization committed to supporting the Ethereum blockchain, recently transferred $46.2 million worth of ETH to its staking deposit contract. In a notable development, this transfer surpasses any previous staking activity for the Foundation, illustrating a growing trend towards long-term commitments within the Ethereum ecosystem.
Current Ethereum Price Trajectory
While Ethereum dipped below the $2,000 mark previously, it has shown signs of recovery, entering the new week at a price above $2,060. The market’s resilience reflects a robust sentiment among investors despite external pressures.
