Bitmine Acquires $43 Million Of Ethereum As Price Slides

Bitmine Acquires $43 Million Of Ethereum As Price Slides CryptoProwl Mon, June 29, 2026 at 3:42 PM GMT+2 1 min read BMNR ETH-USD BTC ETH Bitmine Acquires $43 Million Of Ethereum As Price Slides Bitmine Immersion Technologies (NYSE: $BMNR) bought another 27,084 of Ethereum (CRYPTO: $ETH) over the past week as its price neared a low for the year. In all, Bitmine spent $43 million U. S.

buying Ethereum in recent days as the price steadily fell. ETH hit a low for the year of $1,564. 86 U.

S. on June 26. The latest purchases have brought Bitmine's holdings to 5.

7 million Ethereum worth $8. 9 billion U. S.

, according to the company. More From Cryptoprowl: Ripple, The Company Behind XRP, Is Valued At $50 Billion Eightco Secures $125 Million Investment From Bitmine And ARK Invest, Shares Surge Blockchain Projects Decline 75% As Developers Shift To A. I.

Stanley Druckenmiller Says Stablecoins Could Reshape Global Finance New York Stock Exchange Invests $600 Million In Polymarket Bitmine now owns 4. 7% of Ethereum's circulating supply, nearing the company's 5% goal. However, the purchases over the last week were Bitmine's smallest since early May of this year and down from 52,203 Ethereum bought the previous week.

Bitmine remains one of the few crypto treasury firms that's still adding to its holdings amid a relentless selloff in digital assets. Bitmine Chairman Tom Lee has blamed quarter-end rebalancing for the latest bout of weakness in Ethereum and other cryptocurrencies such as Bitcoin (CRYPTO: $BTC). "We are nearing quarter-end for June, and it is not surprising to see 'window dressing' leading to investors reducing their holdings in assets which have fallen in the past three months," said Lee.

Ethereum and Bitcoin are set to record their third consecutive quarterly losses, something that hasn't happened since 2022. BMNR stock has declined 60% in the last 12 months to trade at $13. 56 U.

S. per share.