BitMine has added 7,660 ETH valued at approximately $29 million to its reserves, bringing its total Ethereum holdings above 2,07,000 ETH. The purchase was facilitated by Galaxy Digital’s over-the-counter trading desk in two transactions of roughly 3,800 ETH each, according to Arkham Intelligence data. The average acquisition price of around $3,823 aligns with current market levels, reinforcing a strategy of steady accumulation.
This latest move follows BitMine’s earlier acquisition of 200,000 ETH in October 2025, signaling ongoing institutional conviction in Ethereum as retail traders remain cautious. At current prices, BitMine’s ETH reserve exceeds $794 million. The strategy reflects rising interest in staking and Ethereum’s maturing proof-of-stake ecosystem, with staked ETH totals surpassing 28 million.
Galaxy Digital, led by Mike Novogratz, is known for structuring large crypto purchases to minimize market impact. Novogratz has repeatedly described Ethereum as a core institutional asset, driven by network effects and its central role in decentralized finance.
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