- Bitmine added 101,627 ETH in its fastest weekly buy since Dec 2025, pushing holdings to 4.976M ETH near a 5% supply goal.
- Average cost near $3,600 leaves a $6.3B unrealized loss, yet the firm continues expanding exposure amid volatile prices.
- The firm deployed 3.33M ETH via MAVAN, strengthening validator role as ETH rebounds 41% from February lows.
Bitmine confirmed a fresh Ethereum purchase, adding 101,627 ETH worth $235 million, according to its latest release. The move is its fastest weekly accumulation since December 2025. Despite holding nearly 5 million ETH, the company still carries an unrealized loss exceeding $6.3 billion.
Weekly Accumulation Pushes Holdings Toward 5% Target
The latest purchase lifted Bitmine’s total holdings to about 4.976 million ETH. This represents more than 4.12% of Ethereum’s total supply. The company continues to pursue its “Alchemy of 5%” goal, aiming to control a larger share of circulating ETH.
Notably, this purchase surpasses last week’s $157 million allocation, making it the largest weekly buy this year. Bitmine has deployed 3.33 million ETH, valued at $7.7 billion, through its MAVAN platform. This activity positions the firm as a major validator within the Ethereum network.
Losses Persist as Price Stays Below Cost Basis
However, the accumulation comes with significant portfolio pressure. According to DropsTab, Bitmine’s average ETH purchase price is near $3,600. Current market levels remain below that threshold, leaving the treasury with a $6.3 billion unrealized loss.
Despite this drawdown, the company continues to increase its exposure. Meanwhile, BMNR stock shows mixed performance, declining year-to-date while remaining actively traded. This trading activity reflects ongoing institutional engagement with Ethereum-linked equities.
Market Signals and Strategy
Bitmine Chairman Tom Lee pointed to recent price action as a key factor. He noted that ETH has risen 41% from its early February lows. According to Lee, reduced geopolitical risks, including developments around the U.S.-Iran conflict, contributed to that rebound.
However, market conditions remain volatile. The Strait of Hormuz reopening briefly supported prices, but subsequent closure added pressure again. Lee also referenced broader trends, including Wall Street tokenization and demand from AI systems requiring decentralized infrastructure.
