CryptoMedium•9 November 2026•
1 min read
Bitmine Purchases 9,587 ETH to Bolster Strategic Treasury Reserves
Key Facts
1Bitmine purchased an additional 9,587 ETH last week, valued at approximately $20 million.
2The company is nearing its strategic target of owning 5% of the total circulating Ethereum supply.
Bitmine purchased approximately 9,587 additional Ethereum units last week, valued at roughly $20 million. The Block reported that the acquisition is part of an ongoing treasury accumulation strategy as the company seeks to secure a significant stake in the world's second-largest cryptocurrency.
The company is now nearing its strategic target of owning 5% of the total circulating Ethereum supply. According to Crypto Briefing, Bitmine and its leadership aim to capitalize on a supercycle driven by tokenization and artificial intelligence, despite recent price declines and liquidations across the broader Ethereum market.