Bitmine Adds Nearly 10,000 More Ether as Chairman Cites Bullish Market Signal

Bitmine purchased 9,946 ETH last week, worth roughly $19.4 million, according to a Monday update. The latest buy pushed the company’s total holdings to more than 5.7 million ETH, valued at about $11.2 billion, representing close to 4.8% of ether’s entire circulating supply. The company has now added to its holdings every week since starting the strategy in mid-2025 and is working toward a long term goal of owning 5% of the total supply.

Share Buybacks Also Increase Alongside Ether Purchases

Alongside the ether purchase, the company expanded its stock buyback activity, repurchasing 6.1 million shares last week compared to 5.5 million the week before, under a $4 billion buyback program. While this pace remains well below the tens of thousands of ETH the company was buying weekly earlier in the year, the steady accumulation continues to grow its position significantly.

Rising ETH/BTC Ratio Seen as a Bullish Signal

The company’s chairman pointed to ether’s recent outperformance against bitcoin as a key reason for optimism, noting the ratio between the two has climbed to a three-month high. He said this trend suggests strengthening crypto prices ahead, even as prospects for a major crypto market structure bill in Congress have dimmed. Ether also touched a ten week price high this week, with the next key levels to watch sitting higher still. Over the past month, ether has significantly outperformed bitcoin’s gains, according to market data.