- BitMine buys 7,660 ETH worth $29M via Galaxy Digital, boosting total holdings past 207,000 ETH.
- Institutional demand for Ethereum stays strong as retail traders reduce $5K year-end expectations.
- BitMine targets 5% of total ETH supply under its long-term “Alchemy of 5%” accumulation plan.
BitMine executed a fresh purchase of 7,660 ETH worth about $29.28 million through Galaxy Digital’s OTC desk. The transaction used two batches near 3,800 ETH each, and Arkham data recorded the transfers. The purchase raises BitMine’s total holdings to over 207,000 ETH, and the firm continues its long-term accumulation strategy.
BitMine Just Bought 7,660 ETH ($29.28M) from Galaxy Digital
Ethereum continues to attract institutional attention as BitMine executed a new purchase of 7,660 ETH worth approximately $29 million. The acquisition was completed through Galaxy Digital’s over-the-counter desk, showing sustained accumulation by large investors. The trade comes during a period of growing divergence between institutional and retail sentiment in the Ethereum market.
BitMine completed the transaction through Galaxy Digital, led by Mike Novogratz, avoiding price volatility associated with public exchanges. Data from Arkham confirms that the deal occurred in two equal batches of roughly 3,800 ETH. The average purchase price stood at $3,823 per ETH, closely matching Ethereum’s current trading range of $3,800–$3,900.
According to analysis, BitMine’s total holdings now exceed 207,000 ETH, valued at around $794 million. The company previously accumulated 200,000 ETH in October 2025 which is worth around $800 million, suggesting its long-term plan to increase Ethereum reserves. Galaxy Digital continues to support large-scale trades, maintaining liquidity while limiting market disruption.
Diverging Sentiment Between Institutions and Retail Traders
Institutional demand for Ethereum remains firm, while retail sentiment shows caution. Traders on Kalshi reduced the probability of ETH reaching $5,000 by year-end to 34%, down from over 40% a month ago. This adjustment is a more temperate outlook in the face of current economic conditions and limited outlook for rate cuts.
Federal Reserve Chair Jerome Powell recently stated that further reductions in interest rates are unlikely this year, influencing short-term market sentiment. Despite this, institutional buyers continue to accumulate ETH, supported by Ethereum’s proof-of-stake structure and growing stake participation exceeding 28 million ETH.
BitMine’s CEO Tom Lee continues to pursue the firm’s “Alchemy of 5%” plan, aiming to hold 5% of Ethereum’s total supply. Analysts note that these consistent institutional purchases often occur during quieter retail phases, historically preceding broader market recoveries once confidence returns.
