{"id":28965,"date":"2026-05-18T17:57:31","date_gmt":"2026-05-18T17:57:31","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitmine-ethereum-buy-hits-154m-on-dip\/"},"modified":"2026-05-18T17:57:37","modified_gmt":"2026-05-18T17:57:37","slug":"bitmine-ethereum-buy-hits-154m-on-dip","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitmine-ethereum-buy-hits-154m-on-dip\/","title":{"rendered":"BitMine Ethereum buy hits $154M on dip"},"content":{"rendered":"<p><\/p>\n<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">BitMine Ethereum buy reached 71,672 tokens worth roughly $154 million last week, reversing recent talk of a slowdown.<\/p>\n<div id=\"cn-block-summary-block_139a571917793e544e8e8048753efc8f\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>BitMine acquired 71,672 ETH last week as Chairman Tom Lee called the pullback below $2,200 an attractive opportunity.<\/li>\n<li>The latest purchase lifts BitMine\u2019s stash to 5.28 million ETH, or 4.37% of Ethereum\u2019s circulating supply.<\/li>\n<li>Lee said rising oil prices were the biggest headwind on Ethereum and predicted ETH would recover once crude reverses.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>BitMine Immersion Technologies bought 71,672 ETH last week, a sharp reversal from its previous accumulation pace of just 26,659 tokens. The firm spent roughly $154 million as Ethereum slipped below $2,200, with Chairman Tom Lee framing the weakness as a buying window.<\/p>\n<p>The purchase, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/in\/news-releases\/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-5-28-million-tokens-and-total-crypto-and-total-cash-holdings-of-12-6-billion-302774413.html\" target=\"_blank\" rel=\"nofollow\">announced<\/a> on Monday, lifted total holdings to 5.28 million Ethereum tokens. That puts BitMine at 87% of its target to control 5% of ETH supply within 2026.<\/p>\n<h2 class=\"wp-block-heading\">Tom Lee blames oil for Ethereum weakness<\/h2>\n<p>Lee told investors that ETH\u2019s inverse correlation to oil is the highest ever recorded. \u201cWe view the recent pullback of ETH to below $2,200 as an attractive opportunity,\u201d he said in the company\u2019s update.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>The chairman framed crude as the dominant force pressuring ETH over the past six weeks. Brent traded above $111 per barrel on Monday, up roughly 16% in a month on Middle East tensions and Strait of Hormuz risk.<\/p>\n<p>BitMine\u2019s total crypto and cash holdings now stand at $12.6 billion, including 202 Bitcoin, $685 million in cash, and equity stakes in Beast Industries and Eightco Holdings. Shares of BMNR fell almost 5% in early trading.<\/p>\n<h2 class=\"wp-block-heading\">Staking revenue tops $289M annualized<\/h2>\n<p>The firm has staked 4.71 million ETH, more than 89% of its total position, generating $289 million in annualized revenue at a 2.80% seven-day yield. Lee said fully staked holdings under the MAVAN platform could produce $324 million per year.<\/p>\n<p>Lee also addressed the CLARITY Act, which cleared the Senate Banking Committee 15-9 last week. He said BitMine believes the bill\u2019s passage probability exceeds the 61% implied by Polymarket.<\/p>\n<p>BitMine remains the world\u2019s largest corporate ETH treasury and the second-largest digital asset treasury behind Strategy. The firm aims to hit the \u201calchemy of 5%\u201d supply mark sometime in 2026, despite recent talk of moderation.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BitMine Ethereum buy reached 71,672 tokens worth roughly $154 million last week, reversing recent talk of a slowdown. Summary BitMine acquired 71,672 ETH last week as Chairman Tom Lee called&hellip;<\/p>\n","protected":false},"author":1,"featured_media":15300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-28965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/28965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=28965"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/28965\/revisions"}],"predecessor-version":[{"id":28966,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/28965\/revisions\/28966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/15300"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=28965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=28965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=28965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}