BitMine Extends Ethereum Buying Spree With Another $50 Million

BitMine has topped up its large Ethereum holdings with another major purchase spotted earlier today according to data provided by blockchain monitoring firm, Lookonchain.

This is coming about a week after the firm bought about $237 million worth of Ethereum, which marked its largest weekly purchase seen so far in 2026.

BitMine tops up treasury with 25,000 $ETH

According to data provided by the tracker, BitMine has closed the week with another purchase of 25,000 $ETH worth $50,413,250 per Ethereum's price at the time of the purchase.

The purchase was made with a single large transfer where the firm withdrew the massive amount of Ethereum from Kraken, one of the world's leading cryptocurrency exchanges.

While BitMine remains the largest Ethereum treasury in the world, its continued purchases regardless of the crypto market conditions have seen the crypto community rain praises on the firm for its commitment.

It is important to note that the transfer has arrived at a time when Ethereum has continued to flash bearish signals. The asset has continued to struggle to hold support around $2,000 amid the prolonged market volatility.

Ethereum price outlook

Following the recent volatility, there are predictions that Ethereum might be headed for a price bottom at around $1,000 if the market remains on the downside.
However, the crypto market is beginning to show signs of a short-term recovery which has helped Ethereum maintain support above $2,000. If the asset survives the market downward pressure, analysts believe a potential price breakout could be ahead for Ethereum.