Bitmine buys another $70M in ETH as treasury nears 5% of supply

cryptonews16:28

This article has been updated to include a chart showing Bitmine’s share price performance over the past day. Bitmine has increased its Ethereum treasury with another $70 million purchase, taking its ...

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The decline came days after th","collect":0,"end_time":0,"defaultTopTitle":"crypto.news","property":[],"viewcount":null,"language":"en","relate_stocks":{"ETQ":"T-Rex 2X Inverse Ether Daily Target ETF","EETH":"以太币期货ETF-ProShares","ETHV":"以太坊ETF-VanEck","TMF":"3倍做多20年期以上国债ETF-Direxion","03009":"博时以太币","BETE":"等权重比特币&以太币期货ETF-ProShares","CRPT":"First Trust SkyBridge Crypto Industry and Digital Economy ETF","AETH":"以太坊策略ETF-Bitwise","ETHW":"以太坊ETF-Bitwise","ETH":"低成本以太坊ETF-Grayscale","BETH":"比特币&以太币期货ETF-ProShares","ETHA":"以太坊ETF-iShares","BEGS":"RAREVIEW 2X BULL CRYPTOCURRENCY & PRECIOUS METALS ETF","09046":"华夏以太币-U","09179":"嘉实以太币-U","ARKY":"ARK 21SHARES ACTIVE BITCOIN ETHEREUM STRATEGY ETF","STCE":"Schwab Crypto Thematic ETF","GDLC":"Grayscale CoinDesk Crypto 5 ETF","ETHD":"ProShares UltraShort Ether ETF","NCIQ":"HASHDEX NASDAQ CRYPTO INDEX US ETF","03046":"华夏以太币","FETH":"以太币ETF-Fidelity","ETHE":"最大以太坊ETF-Grayscale","BTF":"比特币&以太币期货ETF-CoinShares","ETHU":"2倍以太币期货ETF-Volatility Shares","BITQ":"Bitwise Crypto Industry Innovators ETF","ETHI":"Defiance Leveraged Long Income Ethereum ETF","EZET":"以太坊ETF-Franklin","LFGY":"YieldMax Crypto Industry and Tech Portfolio Option Income ETF","QETH":"以太坊ETF-Invesco Galaxy","ETCO":"Grayscale Ethereum Covered Call ETF","ETHT":"ProShares Ultra Ether ETF","03179":"嘉实以太币","09009":"博时以太币-U","CETH":"以太坊ETF-21Shares","ETU":"T-Rex 2X Long Ether Daily Target ETF","BKCH":"AdvisorShares Sabretooth ETF","BITW":"Bitwise 10 Crypto Index ETF","YETH":"Roundhill Ether Covered Call Strategy ETF"},"translate_title":"随着财政部接近供应量的5%，Bitmine又购买了7000万美元的ETH","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"US6M.BOND":1.5,"EETH":1.5,"US2Y.BOND":1.5,"ETHT":1.5,"AETH":1.5,"US10Y.BOND":1.5,"QETH":1.5,"ETHD":1.5,"BTF":1.5,"09179":0.9,"03179":0.9,"ETH":1.5,"US12M.BOND":1.5,"ETHV":1.5,"FETH":1.5,"BETH":1.5,"US5Y.BOND":1.5,"NCIQ":1.5,"YETH":1.5,"ETQ":0.6,"09046":0.9,"03009":0.9,"CETH":0.9,"US7Y.BOND":1.5,"GDLC":0.9,"ETU":1.5,"BITQ":0.9,"09009":0.9,"TMF":0.6,"US3Y.BOND":1.5,"ETCO":0.6,"LFGY":0.9,"BITW":0.9,"BEGS":1.5,"ARKY":1.5,"ETHA":1.5,"03046":0.9,"US30Y.BOND":1.5,"BETE":1.5,"ETHU":1.5,"CRPT":1.5,"ETHI":0.6,"BKCH":0.9,"EZET":1.5,"ETHW":1.5,"ETHE":1.5,"STCE":1.5,"METHmain":1.5},"content_text":"This article has been updated to include a chart showing Bitmine’s share price performance over the past day.\nBitmine has increased its Ethereum treasury with another $70 million purchase, taking its holdings to nearly 5% of the token’s circulating supply.\n\n\nSummary\n\n\n\nBitmine has purchased another 40,000 ETH worth about $70 million, taking its Ethereum treasury close to 5% of the token’s circulating supply.\nMost of the company’s Ethereum holdings remain staked through its validator network, with staking expected to generate significant annual rewards.\nChairman Tom Lee has pointed to growing Ethereum adoption and improving regulatory prospects while the company’s shares closed lower on Tuesday.\n\n\n\nAccording to blockchain analytics platform Lookonchain, Bitmine acquired 40,000 ETH on Tuesday through two wallet addresses in transactions traced by Arkham Intelligence to hot wallets operated by FalconX and Kraken.\n\nTom Lee(@fundstrat)'s #Bitmine bought another 40,000 $ETH($71.6M) from #FalconX and #Kraken 11 hours ago.https://t.co/sHMfyAQlqNhttps://t.co/aXRJntgZlP pic.twitter.com/ClIjRIwwKx— Lookonchain (@lookonchain) July 8, 2026\n\nWhile the company has not publicly confirmed the latest purchase, it has continued releasing weekly updates on its Ethereum accumulation.\nThe latest on-chain activity follows Bitmine’s disclosure on Monday that it bought 42,197 ETH between June 29 and July 3, raising its treasury to 5,742,237 ETH. \nThe company said those holdings account for about 4.8% of Ethereum’s circulating supply, leaving it close to its stated target of controlling 5% of the network’s supply.\nEthereum treasury continues to grow\nAs outlined in Bitmine’s latest treasury update, the company held crypto assets and cash valued at $11.1 billion as of June 28. Of its Ethereum reserves, 4,879,157 ETH, or roughly 85%, has been delegated to staking through MAVAN, its Made in America Validator Network.\nEarlier company disclosures also estimated that the staked holdings could generate about $235 million in annual staking rewards, underscoring Bitmine’s focus on producing recurring on-chain income alongside expanding its treasury.\nEven with continued buying by the company, Ethereum traded around $1,752 at the time of reporting, remaining well below its all-time high of $4,950 reached last August.\nTom Lee points to Ethereum adoption\nBitmine Chairman Tom Lee has maintained a positive long-term view on Ethereum. Lee said the asset’s practical use continues to grow, citing a Layer 2 network handling USDC payments for Shopify and Visa as an example of increasing real-world adoption.\nLee also pointed to prediction market Polymarket, where the probability of the Clarity Act passing this year has increased, suggesting that regulatory developments could provide additional support for the Ethereum ecosystem.\nEven with news of the latest purchase already making rounds, Bitmine were down 4.8% on Tuesday to close at $14.80. The decline came days after the company joined the Russell 1000 Index on June 26, a milestone that Lee previously said could attract a larger base of institutional shareholders.\nSource: Google Finance.\nBitmine is also scheduled to report its financial results for the April through June 2026 quarter on July 29. According to Wall Street estimates cited in the company’s earlier update, analysts expect quarterly revenue of about $45 million.\n\n\n\n\n\n                Read more:\n            \n\n                South Korean super app Toss partners with Optimism for won linked stablecoin trial","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.45.2","shortVersion":"4.45.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2649691429","isCrawlerRequest":true}