Bitmine Acquires 101,627 ETH for $233 Million in Significant Move
Bitmine, led by Tom Lee, has purchased 101,627 ETH for about $233 million, marking its largest acquisition of 2026. This brings the firm's total ether holdings to nearly 4.97 million ETH, positioning it close to owning 5% of Ethereum's circulating supply, according to Bitcoin News.
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Bitmine has completed a substantial purchase of 101,627 ETH, equivalent to approximately $233 million, through Bitgo. This represents the firm's largest single-week acquisition in 2026, emphasizing its ongoing strategy of accumulating ether.
The recent transaction adds to Bitmine's total ether holdings, now nearing 4.97 million ETH. By utilizing newly created wallets for the acquisition, the firm aims to streamline its staking operations and maintain better on-chain auditing.
By holding nearly 5% of Ethereum's total supply, Bitmine demonstrates a strong commitment to the asset. With the firm's recent uplisting to the New York Stock Exchange, it has increased its visibility in the institutional space, indicating growing interest in the Ethereum market.
BIS Report States Stablecoins Resemble ETFs More Than Currency
The Bank for International Settlements (BIS) claims stablecoins operate more like exchange-traded funds than genuine money, highlighting risks associated with them. This assessment appears in BIS's latest annual report, as noted by CoinDesk.
42 minutes ago·CoinDesk·Reported by Omkar Godbole
BitMEX Removes CEO, CFO, and Chief Growth Officer Amid Strategic Shift
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South Korea Allocates $518 Billion to AI Chips, Impacting Crypto Investments
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Bitcoin Dips to $59,700 Amid Iran Peace Talks, Crypto Remains Flat
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3 hours ago·CoinDesk·Reported by Shaurya Malwa
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