Crypto

BitMine Snaps Up $140M Worth of ETH Amid Market Weakness

Guavy AI Editorial Team Published September 27, 2026

Instruments

ETH ARKM

BitMine, an Ethereum treasury firm led by Tom Lee, co-founder of Fundstrat, has acquired $140.58 million worth of ETH during market downturn. The company purchased 48,049 tokens from a FalconX hot wallet on Tuesday, according to on-chain analysts EmberCN and Lookonchain citing Arkham data.

This recent purchase brings the total Ethereum holdings of BitMine to 3,967,210 tokens, averaging $3,074 per token. At current market prices, these holdings are valued at approximately $11.6 billion.

BitMine's acquisition strategy is aggressive and consistent, with the company purchasing ETH regardless of price movements. Chairman Lee has stated that the best days for crypto lie ahead, citing legislative progress in Washington and rising Wall Street support as positive developments throughout 2025.

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