Bitmine Acquires $131 Million Worth of Ether, Raising Holdings to 5.9 Million ETH

Investment firm Bitmine announced a $131 million purchase of Ether (ETH), the largest single‑day acquisition of the cryptocurrency since June. The buy brings the firm’s total Ethereum holdings to 5.9 million ETH, which represents about 4.9 % of the overall ETH supply.

Scale of the Purchase

The transaction, valued at $131 million at current market prices, is the biggest Ethereum buy recorded in the past several months. It follows a period of modest price movement for ETH, which has been trading around $2,465.

Impact on Bitmine’s Portfolio

With the new acquisition, Bitmine now controls 5.9 million ETH. This positions the firm as a significant holder of the network’s native token, holding just under five percent of all Ether in circulation.

Market Context

Ethereum’s price has shown limited volatility in recent weeks, hovering just below $2,500. The purchase underscores confidence from institutional players in the asset’s long‑term prospects, especially as the third quarter approaches.

Outlook

Bitmine’s chairman highlighted the strong performance of the broader crypto market in the third quarter, suggesting that large‑scale purchases like this could signal continued institutional interest in Ethereum.