(SeaPRwire) – By: James Vance
Bitmine just made a big move. Last week, they bought 126,971 ETH—their biggest weekly buy in 2026. At current prices, that’s worth ~$214 million. Total ETH holdings now 5.54 million, 4.59% of Ethereum’s supply. Chairman Tom Lee says price drops don’t match Ethereum’s fundamentals.
ETH prices fell hard. Bitmine’s total holdings hit $9.9 billion. Prior week, they bought 26,497 ETH. Jumping to 126k tokens shows a shift. They aim for 5% supply target—need ~6.04 million ETH.
Over 4.71 million ETH is staked. Projected annual staking revenue is $230 million. But Ethereum is down 65% from August. Unrealized losses at $9.6 billion. Bitmine plans preferred equity, like Strategy. Trading volume high, ranked 148th in US stocks.
Author bio: James Vance, Senior Columnist at top international tech weekly, covering crypto and market dynamics.