Bitmine bought 126,971 ETH last week in its biggest 2026 purchase, lifting holdings to $9.3 billion

Bitmine (BMNR), the largest ether treasury company, acquired 126,971 ETH over the past week, worth roughly $214 million at current prices, marking its largest weekly purchase of 2026. The firm disclosed the acquisition on Monday as crypto prices declined.

The latest purchase brought Bitmine's total ether holdings to 5.54 million ETH, valued at approximately $9.3 billion at current prices, according to the company. Including $247 million in cash, bitcoin, and stakes in Beast Industries and Eightco Holdings, the firm's total crypto, cash and investment holdings reached $9.9 billion. The company now controls 4.59% of ether's outstanding supply and is set to reach its 5% target later this year.

The acquisition follows the company's earlier calls to slow accumulation. "We increased our buying as we believe this pullback in ETH prices does not reflect the strengthening of Ethereum fundamentals," chairman Thomas Lee said in a statement. Bitmine purchased 26,497 ETH the previous week and nearly 120,000 ETH the week before, according to the report.

Bitmine remains one of the few large digital asset treasury companies still adding to its crypto holdings, while most peers have halted purchases and pivoted to selling as crypto prices have turned sharply lower since October. The bet is sitting on an estimated $9.6 billion of paper losses as ETH fell to its weakest price in more than a year, down some 65% from its August record.

The company also announced plans to issue a preferred equity class that pays dividends to raise additional funds, a model associated with bitcoin-centric Strategy. That approach has drawn investor scrutiny, with STRC, Strategy's latest preferred share class, falling to $90 on Friday, some 10% below its par value.