Ethereum finance company Bitmine has reached a significant milestone after its Ether holdings surpassed 4 million tokens this week following the corporate's recent $40 million purchase.
Bitmine said on Monday that its holdings now stand at over 4.06 million Ether (ETH), with Lookonchain indicating earlier within the day that the corporate had purchased 13,412 ETH price $40.61 million.
The latest purchase brings Bitmine's total purchases previously week to almost 100,000 ETH, with the corporate saying it purchased all of its tokens at a mean purchase price of $2,991 each.
“Bitmine continues to expand its ETH holdings, adding 98,852 ETH previously week, and Bitmine holdings now exceed the crucial 4 million ETH tokens,” said Tom Lee, Chairman of Bitmine. “This is a big milestone achieved after just 5.5 months.”
Source: Bitmine
As the value of ETH rose back to $3,000 over the weekend, Bitmine's Ether supply has returned to profitability after being within the red because the market crash in October.
The company's goal is to own 5% of the full ETH supply, and the corporate has repeatedly expressed its strong belief within the asset and the Ethereum ecosystem.
With its current holdings price around $12.2 billion at current prices, Bitmine has reached 67% of its goal, based on data from Strategic ETH Reserve.
“We are making rapid progress toward the 'alchemy of 5%' and are already seeing the synergies arising from our significant ETH holdings,” said Lee.
Shares of Bitmine (BMNR) have risen 606% within the last six months, with the Ether play launched in June a significant boon for the corporate.
The company has outlined plans to attach stakeholders as a part of its Ether transport in early 2026 to create more value for investors.
“We proceed to make progress on our staking solution called The Made in America Validator Network (MAVAN). This shall be the 'best-in-class' solution providing secure staking infrastructure and shall be deployed in early 2026,” Lee said.
