{"id":87266,"date":"2026-04-28T07:46:30","date_gmt":"2026-04-28T07:46:30","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=87266"},"modified":"2026-04-28T07:46:30","modified_gmt":"2026-04-28T07:46:30","slug":"ethereum-power-play-bitmine-rockets-past-5m-eth-with-fresh-101901-purchase","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=87266","title":{"rendered":"Ethereum Power Play: Bitmine Rockets Past 5M ETH With Fresh 101,901 Purchase"},"content":{"rendered":"
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The Ethereum treasury company founded by Wall Street analyst Tom Lee is now underwater by more than $6.3 billion.<\/p>\n

Bitmine<\/a> paid an average price above $3,600 per ETH across its holdings, while Ethereum currently trades around $2,300 \u2014 a gap that has widened as the broader crypto market remains under pressure.<\/p>\n

Yet rather than pulling back, the company bought more last week than it ever has in a single week this year.<\/p>\n

Bitmine acquired 101,901 ETH<\/a> between April 20 and April 27, pushing its total holdings to 5,078,386 ETH.<\/p>\n

According to a press release from the company, this marks a new record<\/a> for weekly buying pace in 2026, edging past the 101,627 ETH it purchased the week before. That previous week had itself been the largest single-week buy of the year at the time.<\/p>\n

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JUST IN: \"\ud83d\udcb0\" BitMine purchased 101,901 ETH last week, pushing its total holdings past 5 million ETH for the first time \u2014 or 4.21% of total Ethereum supply. pic.twitter.com\/NFUi7oFKTt<\/a><\/p>\n

\u2014 CoinMarketCap (@CoinMarketCap) April 27, 2026<\/a><\/p>\n<\/blockquote>\n

10 Months To Reach A Historic Milestone<\/h2>\n

Lee called the 5 million ETH milestone \u201castonishing,\u201d noting it took the company just 10 months to reach it. He said Bitmine is moving toward a longer-term goal of holding 5% of the total ETH supply \u2014 a target that would require acquiring millions more tokens at current supply levels.<\/p>\n

Part of the recent accumulation<\/a> included a direct purchase from the Ethereum Foundation. Reports indicate Bitmine bought 10,000 ETH from the Foundation in an over-the-counter transaction, as the Foundation continues selling holdings to fund its operations.<\/p>\n

<\/p>\n

Lee pointed to several research reports as the basis for his bullish stance on ETH. He argues the asset is becoming a store of value and will increasingly be held as collateral as crypto spreads through mainstream finance.<\/p>\n

He also cited demand from AI agents that rely on public, neutral blockchains as another growth driver for Ethereum.<\/p>\n

Lee added that ETH has outpaced the S&P 500 in performance since the start of the US-Iran conflict and called it one of the best-performing assets in the world during that period, behind only crude oil.<\/p>\n

BMNR Stock Holds Steady Despite Heavy Losses On Paper<\/h2>\n

Shares of Bitmine \u2014 traded under the ticker BMNR<\/a> \u2014 were up roughly 1% at around $22 at Monday\u2019s market open, according to TradingView data.<\/p>\n

The gains were modest. The stock remains down more than 20% year-to-date, tracking closely with ETH\u2019s own decline of roughly 20% over the same stretch.<\/p>\n

Despite the losses, Bitmine shows no signs of slowing its buying. The company\u2019s latest purchase signals that management views the current price as an opportunity, not a warning.<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Ethereum treasury company founded by Wall Street analyst Tom Lee is now underwater by more than $6.3 billion. Bitmine paid an average price above $3,600 per ETH across its holdings, while Ethereum currently trades around $2,300 \u2014 a gap that has widened as the broader crypto market remains under pressure. Yet rather than pulling […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-87266","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/87266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=87266"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/87266\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=87266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=87266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=87266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}