Bitmine expands Ethereum treasury with 25,000 ETH purchase
Bitmine has added 25,000 Ethereum tokens to its treasury as the crypto market continues to face weak sentiment and sharp price swings.
The purchase was worth about US$50.4 million at the time of the transaction, according to on-chain data cited by Lookonchain.
The transaction appeared as a single large transfer from Kraken, one of the major cryptocurrency exchanges used by institutional and retail traders.
The movement suggested that Bitmine moved the tokens into treasury storage rather than keeping them on an exchange for quick trading.
Large exchange withdrawals often attract market attention because they can signal long-term holding plans from major crypto holders.
Bitmine’s latest purchase followed another major Ethereum buy made about one week earlier.
The company previously bought almost US$237 million worth of Ethereum, which marked its largest weekly ETH purchase recorded so far in 2026.
The back-to-back purchases show that Bitmine continues to build its Ethereum reserves despite the difficult market backdrop.
Ethereum has struggled to hold steady above US$2,000 as traders respond to bearish signals, falling confidence, and broader crypto volatility.
ETH traded near US$2,032 at the time of the report, keeping it slightly above the closely watched US$2,000 level.
Some market watchers have warned that Ethereum could fall closer to US$1,000 if selling pressure deepens in the coming weeks.
However, ETH has also shown signs of short-term recovery, which helped the token stay above the US$2,000 area.
The US$2,000 level remains important because many traders use it to judge whether Ethereum can defend its current rebound.
Investors are now watching support levels, trading volumes, and the market’s ability to absorb further selling pressure.
Bitmine’s move has drawn attention because large treasury purchases can influence market sentiment even when they do not immediately reverse a downtrend.
The company’s continued buying suggests confidence in Ethereum’s long-term role, despite short-term price weakness.
Bitmine remains one of the most closely watched Ethereum holders because its purchases are visible through blockchain monitoring tools.
The company’s accumulation strategy has gained support from parts of the crypto community, especially among investors who see ETH as a long-term asset.
Still, Bitmine’s purchases alone do not guarantee a broader Ethereum recovery or a lasting shift in market direction.
The coming weeks may show whether repeated institutional buying supports a stronger ETH rebound or simply reflects a long-term bet during a volatile market.
At the time of reporting, Ethereum price was $2,026.81.