Bitmine Defies Market Slump, Adds 50K ETH to Its Expanding Crypto Treasury

TLDR

• Bitmine acquired 28,625 ETH worth around $82 million during a period of heavy crypto market selling.
• The company had already secured 21,537 ETH from FalconX the day before in a deal valued at nearly $60 million.
• Bitmine now holds the largest Ethereum treasury among institutions after executing two major purchases within 48 hours.
• BMNR stock rose by nearly 5 percent in premarket trading following Bitmine’s aggressive Ethereum accumulation strategy.
• Institutional ownership of BMNR shares increased sharply from 10 million to 100 million shares in just four weeks.

Bitmine has acquired another 28,625 ETH valued at around $82 million, strengthening its Ethereum reserves once again. The transaction follows another large transfer of 21,537 ETH, worth nearly $60 million, received from FalconX. These actions occurred during a sharp sell-off across crypto markets, amid increased retail selling.

Bitmine Adds 50K ETH in 48 Hours

Bitmine has now added two large batches of Ethereum to its holdings within 48 hours. On Sunday, the firm secured 21,537 ETH via FalconX in an acquisition estimated at $59.9 million. The following day, it acquired another 28,625 ETH directly on the open market.

These two deals pushed Bitmine’s Ethereum balance above that of any other institutional treasury worldwide. Bitmine now controls over 50,000 ETH valued at current market prices. The new totals are expected to be confirmed in the company’s updated asset disclosure.

The market has closely tracked Bitmine’s moves during periods of high volatility. While other players reduced exposure, Bitmine increased its reserves in a rapid buying sequence. The timing suggests a deliberate strategy to accumulate when ETH prices remained under pressure.

BMNR Stock Rebounds in Premarket Trading

Following the latest Ethereum purchase, Bitmine’s BMNR stock moved 4.8% higher during Monday’s premarket session. The upward reaction followed a month-long 50% drawdown in BMNR shares. However, Bitmine’s year-to-date gain still stands at 258%.

Bitmine Immersion Technologies, Inc., BMNR

Despite recent market weakness, institutional activity in BMNR remains strong. New regulatory filings show institutional holdings jumped from 10 million to 100 million shares in one month. This shows sustained interest even as broader crypto sentiment cooled.

The sudden surge in buying interest may reflect confidence in Bitmine’s accumulation strategy. Bitmine has not yet commented, but updated asset figures are expected later today. These will likely cover Ethereum, Bitcoin, Eightco Holdings, and cash reserves.

Ethereum Price Faces Key Resistance

Ethereum price is currently trading near $2,793, close to the lower end of its 24-hour range. Price action remains weak, with ETH struggling to break past resistance near $2,900. The latest volume surge has yet to lead to meaningful price recovery.

Over the past 24 hours, ETH trading volume has climbed by 33%, pointing to increased activity but no clear direction. Analysts say that unless ETH reclaims the $2,850 to $2,900 level, further upside may remain capped. A failure to hold could trigger a move toward $2,500 support.

Derivatives data points to softening sentiment in Ethereum markets. Open interest in ETH contracts declined by 2% in the last four hours. Traders are watching for potential downside unless momentum shifts.

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