- Bitmine has increased its holdings of Ethereum (ETH) to over 4.73 million.
- The company is adding to its ETH treasury strategy despite market struggles.
- Ethereum price is approaching $2,000.
Immersion techniques in Bitmineled by Tom Leehas accelerated its acquisitions of Ethereum, marking its largest purchase in 2026 so far.
According to a company update, Bitmine’s total holdings of Ethereum have risen to over 4.73 million ETH, while its combined cryptocurrency and fiat reserves now exceed $10.7 billion.
The company has also expanded its equity activity, even with… Ethereum It is trading near the $2,000 level amid broader weakness in the cryptocurrency market.
The downturn has led to notable capital outflows from ETH-focused investment products.
Biggest weekly purchase raises collectibles
In an update on Monday, Bitmine said it had made its largest weekly Ethereum purchase of the year, acquiring 71,179 ETH.
The transaction brought the total treasury of ETH to 4.73 million tokens, representing about 3.92% of the total supply of Ethereum.
The latest purchase significantly exceeds the company’s recent weekly average of 45,000 to 50,000 ETH, confirming a more aggressive accumulation strategy.
This contrasts with broader market behavior, where many digital asset treasuries have paused purchases or liquidated holdings amid falling prices.
Cryptocurrencies are outperforming despite macro headwinds
Ongoing macroeconomic and geopolitical pressures have weighed on risk assets.
Commenting on this trend, Thomas Lee, Chairman of Bitmine, said:
“As the Iran War enters its fifth week, Ethereum and cryptocurrencies have outperformed the broader market, with Ethereum outperforming stocks by 1,160 basis points. This contrasts with gold, which underperformed by more than 750 basis points. Cryptocurrencies are showing their potential as a store of value in wartime.”
Bitmine remains one of the few large corporate buyers to maintain a consistent accumulation strategy despite market headwinds.
in contrast, Michael Saylor‘s strategy— the world’s largest Bitcoin holder — recently halted its 13-week buying streak.
Ethereum holds above $2,000 despite outflows
Ethereum has remained resilient around the $2,000 level and is up nearly 10% over the past month, although upward momentum remains limited.
The asset has remained near this range despite persistent exchange outflows and dovish institutional sentiment.
Data from Currency stocks It showed that ETH investment products recorded $222 million in net outflows last week.
Bitcoin products also saw outflows of over $194 million, contributing to a broader withdrawal of $414 million across cryptocurrency investment vehicles.
The long-standing condemnation remains
Despite these outflows, Bitmine’s continued accretion highlights the strong long-term conviction among select institutional players.
the Ethereum Foundation It also indicated a similar situation, betting more than $46 million worth of ETH on Monday.
Looking ahead, Ethereum prices could benefit from fundamental resilience and possibly rise in the coming weeks or months.
However, a break below $2,000 remains a risk if negative sentiment intensifies.
