#BitMine Purchases 40,613 $ETH as Price Drops 62% From Peak


BitMine Immersion Technologies acquired 40,613 #Ethereum during the week ending Feb. 8, expanding its position to 4,325,738 tokens valued near $9.2 billion. The purchase increased the company's ownership to 3.58% of circulating Ether supply, advancing toward a stated objective of controlling 5% of all tokens.


Executive Chairman #TomLee disclosed that the acquisition occurred while Ethereum traded at levels 62% beneath its 2025 high. Prices fluctuated from above $2,300 to lows near $1,700 throughout the week before settling around $2,000, though the company did not specify its average purchase cost.


Lee highlighted data showing #EthereumNetwork activity reached record levels despite price declines. Daily transactions touched an all-time high of 2.5 million while active addresses climbed to 1 million per day in 2026, creating what the chairman described as an attractive buying opportunity based on strengthening fundamentals.

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February 09, 2026 at 8:03 PM
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