While institutional purchases in the cryptocurrency market continue unabated, Bitmine has once again made headlines with a large-scale Ethereum purchase. Onchain data analytics platform Lookonchain reported, based on Arkham data, that the company purchased approximately 67,111 ETH on Tuesday. The total value of this purchase is estimated to be around $145 million.
According to the analysis, the ETH in question was withdrawn from the Kraken exchange via two different wallets. The transactions were also confirmed by EmberCN.
This latest purchase further increases the company’s holdings of 4.66 million ETH as of March 22nd. Bitmine’s total Ethereum reserves are reportedly worth approximately $10 billion, representing 3.86% of the circulating supply. The company had previously announced the purchase of an additional 65,341 ETH since March 16th.
The company’s CEO, Tom Lee, stated that they have increased their buying pace over the past three weeks, adding that they believe Ethereum is in the final stages of what they describe as a “mini crypto winter.”
According to the data, Bitmine maintains its position as the company with the largest Ethereum reserves. It is followed by SharpLink Gaming with over 863,000 ETH and The Ether Machine with approximately 496,000 ETH.
On the other hand, while the price of Ethereum rose 1% in the last 24 hours to $2,154, it is still 55% below its peak reached in August 2025. Bitmine shares, meanwhile, have been experiencing volatile trading recently.
*This is not investment advice.
