BitMine is sticking to its plan of buying more Ethereum, adding another 25,000 ETH worth about $41 million, even though it currently has almost $9.9 billion in unrealized losses.
Over the past three days, BitMine has bought around 125,000 ETH for a total of $206 million. The company now owns about 5.54 million ETH, which is roughly 4.59% of all Ethereum in circulation, and is still aiming to reach 5%.
Blockchain analytics platform Lookonchain reports that the latest purchase came from wallets connected to BitGo. This buy happened while Ethereum is trading at about $1,644, which is much lower than its past peak.
Even with the market down, BitMine Chairman Tom Lee is still very positive about Ethereum’s future. He believes the current low price does not show the network’s long-term strength or its increasing importance in finance.
BitMine values Ethereum not just for possible price gains, but also for staking rewards, more tokenized assets, more stablecoin use, and greater interest from big investors. The company also thinks Ethereum could become a main part of future digital payment systems.
Recently, Lee talked about BitMine’s “Alchemy of 5%” plan, saying the company wants to own a significant share of Ethereum’s supply. He also said that as fewer new tokens are created, the value of what they already hold could go up.
BitMine is also getting ready to grow further. The company has filed with the U.S. Securities and Exchange Commission to raise up to $300 million by offering preferred stock. This shows BitMine is willing to keep buying Ethereum, even with the market’s ups and downs.
Tom Lee(@fundstrat)’s #Bitmine bought another 25,000 $ETH($41.09M) from #BitGo 8 hours ago.
Bitmine has bought a total of 125,000 $ETH($206M) in the past 3 days.https://t.co/A2LBSEd8ED pic.twitter.com/WOPNVYrGa7
— Lookonchain (@lookonchain) June 10, 2026
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