BitMine has disclosed holdings of 566,776 Ether (ETH), acquired at an average price of $3,643.75 per token, with a total value exceeding $2.1 billion.
This significant accumulation forms part of the company’s publicly stated strategy to acquire and stake approximately 5% of Ethereum’s total circulating supply. The move signals a strong long-term vote of confidence in Ethereum’s staking ecosystem and future network growth.
Investor sentiment appears aligned with this strategy, as BitMine’s share price surged 9.3% to $43.20 following the successful closure of a $250 million private placement.
The trend of corporate Ethereum accumulation is gaining momentum. Other publicly traded entities, including SharpLink, BitDigital, and GameSquare, have also recently bolstered their ETH reserves.
Amidst this corporate buying activity, Ethereum’s market price experienced notable gains, rising 3.7% over the previous day and 31% over a recent period to reach $3,733. Despite this positive momentum, ETH remains below its all-time high valuation of $4,891.