{"id":15553,"date":"2026-07-08T17:11:32","date_gmt":"2026-07-08T17:11:32","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=15553"},"modified":"2026-07-08T17:11:35","modified_gmt":"2026-07-08T17:11:35","slug":"bitmine-buys-another-70-million-in-ethereum-as-treasury-nears-5-of-eth-supply","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2026\/07\/08\/bitmine-buys-another-70-million-in-ethereum-as-treasury-nears-5-of-eth-supply\/","title":{"rendered":"Bitmine Buys Another $70 Million in Ethereum as Treasury Nears 5% of ETH Supply"},"content":{"rendered":"\n<p>Bitmine continues to strengthen its position as one of the largest corporate holders of Ethereum, adding another <strong>$70 million worth of ETH<\/strong> to its growing treasury. The latest purchase brings the company&#8217;s holdings close to its ambitious goal of controlling <strong>5% of Ethereum\u2019s circulating supply<\/strong>, reinforcing its long-term confidence in the world&#8217;s second-largest cryptocurrency.<\/p>\n\n\n\n<p>The acquisition comes as institutional interest in Ethereum continues to grow, supported by staking opportunities, expanding real-world adoption, and improving regulatory optimism.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bitmine adds another 40,000 ETH to its treasury<\/h2>\n\n\n\n<p>According to blockchain analytics platform <strong>Lookonchain<\/strong>, Bitmine purchased approximately <strong>40,000 ETH<\/strong> on Tuesday, valued at around <strong>$70 million<\/strong>.<\/p>\n\n\n\n<p>The transactions were tracked by <strong>Arkham Intelligence<\/strong>, which linked the purchases to wallet addresses associated with crypto trading firms <strong>FalconX<\/strong> and <strong>Kraken<\/strong>.<\/p>\n\n\n\n<p>Although Bitmine has not yet officially confirmed the latest acquisition, the company has consistently released weekly updates detailing its Ethereum accumulation strategy.<\/p>\n\n\n\n<p>The new purchase follows Monday\u2019s treasury report, which revealed that Bitmine acquired <strong>42,197 ETH<\/strong> between <strong>June 29 and July 3<\/strong>, increasing its total holdings to <strong>5,742,237 ETH<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Treasury approaches the 5% milestone<\/h2>\n\n\n\n<p>Bitmine&#8217;s Ethereum reserves now represent approximately <strong>4.8% of Ethereum&#8217;s circulating supply<\/strong>, putting the company within reach of its stated objective of owning <strong>5% of all ETH in circulation<\/strong>.<\/p>\n\n\n\n<p>This aggressive accumulation strategy reflects Bitmine&#8217;s belief that Ethereum will play an increasingly important role in decentralized finance, payments, and institutional blockchain adoption.<\/p>\n\n\n\n<p>Alongside its Ethereum holdings, the company reported total crypto assets and cash valued at approximately <strong>$11.1 billion<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Staking remains a key part of Bitmine&#8217;s strategy<\/h2>\n\n\n\n<p>Rather than simply holding Ethereum, Bitmine has deployed the majority of its treasury into staking.<\/p>\n\n\n\n<p>According to the company&#8217;s latest update:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>4,879,157 ETH<\/strong> has been delegated to staking.<\/li>\n\n\n\n<li>Around <strong>85%<\/strong> of its total Ethereum holdings are actively earning validator rewards.<\/li>\n\n\n\n<li>Staking operations are managed through <strong>MAVAN (Made in America Validator Network)<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>Bitmine previously estimated that its staked Ethereum portfolio could generate approximately <strong>$235 million in annual staking rewards<\/strong>, creating a recurring source of on-chain revenue while maintaining long-term exposure to Ethereum.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Tom Lee remains bullish on Ethereum<\/h2>\n\n\n\n<p>Bitmine Chairman <strong>Tom Lee<\/strong> continues to express confidence in Ethereum&#8217;s long-term outlook.<\/p>\n\n\n\n<p>Lee believes Ethereum&#8217;s real-world utility is expanding rapidly, highlighting the growing use of <strong>Layer-2 networks<\/strong> that process <strong>USDC payments<\/strong> for major companies such as <strong>Shopify<\/strong> and <strong>Visa<\/strong>.<\/p>\n\n\n\n<p>He also pointed to improving regulatory sentiment in the United States. According to Lee, increasing expectations surrounding the potential passage of the <strong>CLARITY Act<\/strong> could provide additional support for Ethereum and the broader digital asset ecosystem.<\/p>\n\n\n\n<p>As institutional adoption grows, Lee expects Ethereum to play an increasingly important role in financial infrastructure.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bitmine shares decline despite continued accumulation<\/h2>\n\n\n\n<p>Despite the positive news surrounding its Ethereum purchases, Bitmine&#8217;s stock failed to rally.<\/p>\n\n\n\n<p>The company&#8217;s shares fell approximately <strong>4.8%<\/strong> on Tuesday, closing at <strong>$14.80<\/strong>.<\/p>\n\n\n\n<p>The decline came only days after Bitmine joined the <strong>Russell 1000 Index<\/strong>, a milestone that Lee previously said could attract a larger pool of institutional investors and passive investment funds.<\/p>\n\n\n\n<p>Market participants are now awaiting Bitmine&#8217;s next earnings report, scheduled for <strong>July 29<\/strong>, covering the <strong>April\u2013June 2026<\/strong> quarter.<\/p>\n\n\n\n<p>Wall Street analysts currently expect quarterly revenue of approximately <strong>$45 million<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Institutional Ethereum accumulation continues<\/h2>\n\n\n\n<p>Bitmine&#8217;s latest purchase highlights a broader trend of growing institutional interest in Ethereum.<\/p>\n\n\n\n<p>Unlike companies that simply hold digital assets as treasury reserves, Bitmine is combining long-term accumulation with staking to generate ongoing yield from its holdings.<\/p>\n\n\n\n<p>As more corporations explore Ethereum-based treasury strategies, investors will be watching whether Bitmine reaches its ambitious goal of controlling <strong>5% of Ethereum&#8217;s circulating supply<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Final thoughts<\/h2>\n\n\n\n<p>Bitmine&#8217;s latest <strong>$70 million Ethereum purchase<\/strong> demonstrates the company&#8217;s continued commitment to building one of the largest corporate ETH treasuries in the world. With nearly <strong>5.8 million ETH<\/strong> already under management and most of those assets actively staked, the company is positioning itself to benefit from both Ethereum&#8217;s long-term price appreciation and recurring staking rewards.<\/p>\n\n\n\n<p>Although its share price has recently faced pressure, Bitmine&#8217;s aggressive accumulation strategy reflects growing institutional confidence in Ethereum&#8217;s expanding role within the digital economy.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitmine continues to strengthen its position as one of the largest corporate holders of Ethereum, adding another $70 million worth of ETH to its growing treasury. The latest purchase brings the company&#8217;s holdings close to its ambitious goal of controlling 5% of Ethereum\u2019s circulating supply, reinforcing its long-term confidence in the world&#8217;s second-largest cryptocurrency. The&#8230;<\/p>\n","protected":false},"author":3,"featured_media":15554,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[2231,65,301],"class_list":["post-15553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-bitmne","tag-crypto","tag-ethereum"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bitmine Buys Another $70 Million in Ethereum as Treasury Nears 5% of ETH Supply - Crypto News<\/title>\n<meta name=\"description\" content=\"Bitmine buys another $70 million in Ethereum, bringing its ETH treasury close to 5% of the circulating supply while expanding its long-term staking strategy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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