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1h ago

BitMine Buys 202,037 ETH in Flash-Crash Dip, Treasury Tops 3 Million Tokens

The purchase pushes the firm past the halfway mark toward its 5% Ethereum supply goal.

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Tom Lee’s BitMine surpasses 50% of its goal to hold 5% of the Ethereum supply
Photo: PJ McDonnell

Overview

  • BitMine said it acquired 202,037 ETH during last week’s liquidation-driven price drop, a buy worth roughly $828–$838 million at reported prices.
  • The addition lifts its holdings to about 3,032,188 ETH, representing roughly 2.5% of the circulating supply.
  • The company now stands as the largest publicly traded Ethereum treasury and ranks second among corporate crypto treasuries behind Strategy.
  • On-chain tracker Lookonchain noted newly created addresses that likely withdrew about 128,718 ETH from Kraken and FalconX during the sell-off.
  • BMNR shares rose in pre-market trading following the disclosure, and BitMine also reported about 192 BTC, a $135 million Eightco stake, and roughly $104 million in cash.