Ongoing spot accumulation by a major ETH treasury holder can support near-term sentiment and demand expectations for ETH, though it is not tied to a company earnings event.
Bitmine Buys Another 10,000 Ethereum CryptoProwl Mon, July 27, 2026 at 3:35 PM GMT+2 1 min read BMNR ETH-USD BTC-USD ETH BTC Bitmine Buys Another 10,000 Ethereum Bitmine Immersion Technologies (NYSE: $BMNR) purchased another 10,000 Ethereum (CRYPTO: $ETH) over the past week. Bitmine Chairman Tom Lee said on social media that despite the depressed price, Ethereum has been outperforming Bitcoin (CRYPTO: $BTC) lately, which is a bullish sign. He also said that there is mounting evidence that the crypto market is regaining momentum.
More From Cryptoprowl: MEXC Adds Five Ondo Tokenized Stocks Spanning Semiconductors to Power Infrastructure Hyperliquid To Add Decentralized Prediction Market TokenInsight Q2 2026 Report: TradFi Momentum Lifts MEXC to No. 2 in Commodity Perpetuals Ramp Network Brings Multichain Wallet and Rewards to EU MEXC Expands Ondo Tokenized Stock Offerings with AI Infrastructure and Mining Assets Bitmine, which is the largest Ethereum treasury company, bought 9,946 ETH worth $19. 4 million U.
S. over the past week. That was up from 7,430 Ethereum acquired during the previous week.
The latest purchase lifted Bitmine's total holdings of Ethereum to 5,787,414 tokens worth $11. 2 billion U. S.
, or about 4. 8% of the cryptocurrency's circulating supply. Lee said Bitmine also increased its share repurchases, buying back 6.
1 million shares of its common stock, compared with 5. 5 million in buybacks the previous week. The company currently has a $4 billion U.
S. buyback authorization. Bitmine has a stated goal to acquire 5% of Ethereum's circulating supply, putting it within reach of its target.
Lee says he remains optimistic due to the recent strength of Ethereum relative to Bitcoin, a metric traders use to gauge risk appetite within cryptocurrency markets. Ether has advanced 24% over the past month, outperforming Bitcoin's 8% gain. ETH's price recently hit a 10-week high, although it remains below the key level of $2,000 U.
S. Ethereum is trading at $1,950 U. S.
on July 27.
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