Bitcoin bought 126,971 ETH in the biggest 2026 dip purchase
TLDR
Bitcoin has acquired 126,971 ETH worth about $214 million in one week. The purchase raised total holdings to 5.54 million ETH, worth nearly $9.3 billion. The firm now controls 4.59% of Ether's distribution supply. Chairman Thomas Lee said the reversal does not reflect Ethereum's strengthening fundamentals. Bitmin reported about $247 million in cash with its smaller bitcoin holdings.
Bitcoin expanded its holdings of Ether last week as the price dropped significantly on the crypto market. The company acquired 126,971 ETH, which represents the largest weekly purchase in 2026. This move raised the total holdings to 5.54 million ETH and strengthened the strategy of the treasury during the fall.
Bitmin expands Ether space as prices slide.
Bitmin bought 126,971 ETH last week, worth $214 million at current prices. The company bought 26,497 ETH last week and about 120,000 ETH the week before. The new acquisition increased his total Ether holdings to 5.54 million ETH, worth nearly $9.3 billion.
The company reported $247 million in cash, alongside some bitcoin and equity stakes in Beast Industries and Eightco Holdings. Bitmin now controls 4.59% of Ether's supply and expects to reach its target of 5% by the end of this year. Chairman Thomas Lee said: “We have increased our buys as we believe this rebound in ETH prices will not strengthen Ethereum's fundamentals.”
The acquisition marked a slow turnaround from earlier planned acquisitions as the company neared its ownership target. However, with ETH trading around 65% below its August peak, management has opted to accelerate purchases. The firm described the transaction as the largest weekly purchase of Ether in 2026.
Selected equity plan mirror strategy model
Bitmine has announced plans to introduce a preferred equity class that will pay dividends to investors. The company aims to raise fresh capital through this structure to support further digital asset acquisitions. The approach follows the model used by bitcoin-based treasury strategies.
Strategy's preferred stock unit, STRC, traded at $90 on Friday, about 10% below par. Investors debated whether the strategy could sustain dividend payouts as bitcoin prices fell sharply last week. Bitmin stated that its Ether holdings currently reflect an estimated paper loss of $9.6 billion due to recent price weakness.
Bitcoin continues to add to its crypto portfolio even as many digital asset vaults have stopped stockpiling since October. The company has been active in acquisitions in recent months, even as market prices have fallen. The latest weekly purchase is the largest Ether purchase ever recorded by the company in 2026.
Bitmin has confirmed that it is on track to reach its 5% ownership target by the end of this year. The company has not revised its supply target despite the current market conditions. According to the statement, he ended the week with 5.54 million ETH and $247 million in cash.
