{"id":48485,"date":"2026-06-29T12:45:56","date_gmt":"2026-06-29T12:45:56","guid":{"rendered":"https:\/\/cryptd.in\/bitmine-buys-another-27000-eth-despite-market-slump-nears-5-of-ethereum-supply\/"},"modified":"2026-06-29T12:45:56","modified_gmt":"2026-06-29T12:45:56","slug":"bitmine-buys-another-27000-eth-despite-market-slump-nears-5-of-ethereum-supply","status":"publish","type":"post","link":"https:\/\/cryptd.in\/et\/bitmine-buys-another-27000-eth-despite-market-slump-nears-5-of-ethereum-supply\/","title":{"rendered":"Bitmine Buys Another 27,000 ETH Despite Market Slump, Nears 5% of Ethereum Supply"},"content":{"rendered":"

The former major bitcoin miner has expanded its Ethereum treasury once again during a week in which the asset slumped by over 8% and dived to a multi-month low of $1,500 before it found some support.<\/p>\n

Bitmine Immersion Technologies now holds just over 5.7 million tokens, equivalent to approximately 4.7% of Ethereum\u2019s total circulating supply of 120.7 million coins.<\/p>\n

Bitmine Buys Again<\/h2>\n

Based on an ETH price of $1,570 as of June 28, the company\u2019s total crypto, cash, and investment holdings stand at roughly $10 billion. The firm has reinforced its position as the world\u2019s largest corporate holder of ETH and the second-largest public crypto treasury behind Strategy, which announced<\/a> a new initiative this week, not a new BTC purchase.<\/p>\n

Chairman and long-term ETH bull Tom Lee acknowledged the recent weakness across the entire market but maintained that Bitmine\u2019s long-term outlook remains unchanged.<\/p>\n

\n

\u201cThis past week was a challenging one for crypto investors as ETH fell by 8%, even as Ethereum witnessed notable positive developments such as the creation of Ethlabs, and even the Bank of England softened its stance around stablecoins. We are nearing quarter-end for June, and it is not surprising to see \u2018window dressing\u2019 leading to investors reducing their holdings in assets which have fallen in the past 3 months,\u201d added Lee.<\/p>\n<\/blockquote>\n

He doubled down on his belief that Ethereum will eventually benefit from Wall Street\u2019s migration toward blockchain-based financial infrastructure and the emergence of agentic AI payment systems operating on crypto rails.<\/p>\n

The press release shared by the firm also noted<\/a> that Bitmine has staked almost 4.9 million tokens (over 85% of its total holdings) through its own institutional staking platform, MAVAN. The current staking yield of 2.75% means that its annualized revenue will be around $211 million.<\/p>\n

SharpLink\u2019s Return<\/h2>\n

Although Bitmine remains the undisputed leader in terms of ETH accumulation, the second-in-line SharpLink returned<\/a> last week with several major purchases. After spending eight months on the sidelines, the Joe Lubin-chaired firm bought 5,000 ETH on Friday and kept accumulating more over the weekend.<\/p>\n

In total, the company spent<\/a> more than $62 million to acquire a total of 39,196 ETH, which is actually more than the amount purchased by Bitmine within the same period. However, the gap between the two is still too wide.<\/p>\n

Postitus Bitmine Buys Another 27,000 ETH Despite Market Slump, Nears 5% of Ethereum Supply<\/a> ilmus esimesena veebilehel CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

The former major bitcoin miner has expanded its Ethereum treasury once again during a week in which the asset slumped by over 8% and dived to a multi-month low of $1,500 before it found some support. Bitmine Immersion Technologies now holds just over 5.7 million tokens, equivalent to approximately 4.7% of Ethereum\u2019s total circulating supply […]<\/p>\n","protected":false},"author":1,"featured_media":48487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-48485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nBitmine Buys Another 27,000 ETH Despite Market Slump, Nears 5% of Ethereum Supply - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/et\/bitmine-buys-another-27000-eth-despite-market-slump-nears-5-of-ethereum-supply\/\" \/>\n<meta property=\"og:locale\" content=\"et_EE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitmine Buys Another 27,000 ETH Despite Market Slump, Nears 5% of Ethereum Supply - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"The former major bitcoin miner has expanded its Ethereum treasury once again during a week in which the asset slumped by over 8% and dived to a multi-month low of $1,500 before it found some support. 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