Bitmine has made headlines once again with another huge Ethereum purchase. The company has just bought 63,539 ETH, which is valued at approximately $251.6 million, according to on-chain tracker Lookonchain. Following the transaction, Bitmine transferred the Ethereum tokens from Kraken and BitGo to three new wallets.
The development reflects Bitmine’s increased confidence in the long-term potential of Ethereum despite the asset’s recent downturn.
It looks like Bitmine(@BitMNR) just bought another 63,539 $ETH($251.6M).
8 hours ago, 3 new wallets received 63,539 $ETH($251.6M) from #Kraken and #BitGo.#Bitmine currently holds 3,299,553 $ETH($13.07B), 2.73% of the total supply.https://t.co/2MHlaAM4BZ… pic.twitter.com/KWGL0fpwdb
— Lookonchain (@lookonchain) October 21, 2025
Bitmine’s Total ETH Holdings Near 3.3M
With the latest accumulation, Bitmine’s total Ethereum holdings now stand at 3,299,553 (3.299 million) ETH, valued at roughly $13.07 billion. This represents about 2.73% of Ethereum’s total supply, making Bitmine one of the largest single holders of ETH.
Such large-scale accumulation typically impacts market liquidity, investor sentiment, and overall price direction. Analysts suggest that consistent buying from major players like Bitmine may indicate growing optimism ahead of Ethereum’s next potential bull cycle.
Bitmine Expands ETH Holdings Amid Market Dips
This is not Bitmine’s first large-scale Ethereum purchase this month. CoinRemark recently reported that the company added $126 million worth of ETH on October 11.
Around the same time, another institutional whale bought 14,165 ETH valued at $55.5 million through FalconX, Coinbase, and Wintermute. The coordinated accumulation across multiple platforms reinforces the growing interest in Ethereum among large-scale investors.
Just a week earlier, Bitmine received an additional 20,020 ETH worth nearly $89.7 million via FalconX. Taken together, the company’s Ethereum acquisitions in recent weeks have surpassed $193 million. Despite ongoing price fluctuations, Bitmine continues to buy the dip, steadily increasing its reserves while other investors remain cautious.
On-Chain Data Confirms Bitmine’s ETH Accumulation
Although Bitmine did not disclose the latest purchase, Lookonchain confirmed that the recent transactions are consistent with Bitmine’s previous acquisition behavior. Arkham Intelligence stated that the wallet patterns align with Bitmine’s historical purchases from BitGo, further validating Lookonchain’s findings. However, Bitmine has not yet issued an official statement confirming the transactions.
Even amid market turbulence, Bitmine remains the largest public Ethereum holder and the second-largest corporate crypto treasury after Strategy. The firm’s total crypto and cash reserves now exceed $13.4 billion.
Founded by Fundstrat co-founder Tom Lee, Bitmine has previously announced its goal to accumulate up to 5% of Ethereum’s total supply. The company’s continued accumulation underscores its conviction that Ethereum will play a dominant role in the future of decentralized finance and blockchain innovation.
The CoinRemark Team
Brenda Kanana
