#BitMine Acquires 202,000 $ETH During Weekend Crash


BitMine purchased 202,037 $ETH worth approximately $827 million during the weekend market crash, pushing its total holdings past 3 million tokens. The world's largest corporate $ETH holder now controls about 2.5% of the cryptocurrency's total supply.


Chairman Tom Lee described the acquisition strategy as "aggressive," capitalizing on price declines created by widespread liquidations. The company's average purchase price stands at $4,154 per token, with total holdings reaching $13.4 billion, including crypto assets, cash and equity positions.


BitMine's treasury now includes 192 $BTC valued at $22 million, $104 million in unencumbered cash, and a $135 million stake in Nasdaq-listed Eightco Holdings. The company reported $12.9 billion in crypto and related holdings as part of its diversified strategy.


The purchases occurred as Friday's market correction triggered a $19 billion #liquidation event globally. Lee explained that volatility creates deleveraging opportunities, allowing assets to trade at discounts to their fundamental value and future potential.


BitMine has reached the halfway point toward its stated goal of acquiring 5% of Ethereum's circulating supply. The "alchemy of 5%" target represents approximately 6.04 million $ETH at current circulation levels, requiring substantial additional purchases.

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October 13, 2025 at 5:04 PM
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