Leading Ethereum treasury firm BitMine Immersion Technologies bought the dip, making its largest weekly ETH purchase so far this year.
Ethereum's crash below $1,500 over the weekend has pushed sentiment into one of its most fearful phases since the previous bear market, but crypto analyst Crypto Patel believes the current selloff should be viewed through a longer lens. The analyst's roadmap places ETH inside a broad accumulation range, with the chart showing that the same movement as previous Ethereum tops and bottoms is still playing out, and Ethereum might be declining into an accumulation zone.
Ethereum exchange reserves drop by 475,000 ETH as price trades 31% below the 200-day SMA and stablecoin inflows trigger signals.
Ethereum (ETH) regained momentum on Monday, climbing above the $1,600 level as analysts pointed to renewed market resilience and easing selling pressure. The Ethereum price increased by 1.3% over the past 24 hours to trade around $1,661, outperforming Bitcoin, which posted only modest gains during the same period.
Bitmine (NYSE: BMNR), the largest Ethereum treasury company, significantly increased its Ether (ETH) accumulation last week, recording its biggest weekly ETH purchase of 2026 despite a sharp downturn in the cryptocurrency market. According to the companys latest update, Bitmine acquired 126,971 ETH over the past week, valued at approximately $214 million based on current market prices.
Bitmine purchased 126,971 ETH for about $207M, lifting its treasury to 5.54M tokens worth $9B as ether trades near 30% below its April highs.
Bitmine (BMNR) has expanded its Ethereum holdings to 5.54 million ETH following last week's acquisition of 126,971 tokens — the firm's most aggressive weekly accumulation this year. With ETH trading around $1,630, the company's position carries an estimated value of $9.04 billion.
Bitmine Immersion Technologies now controls 4.59% of the entire ethereum supply after accumulating 5.54 million ETH valued at approximately $9.04 billion at current prices. Holdings Overview The Norwalk, Connecticut-based company disclosed total crypto, cash, and “moonshot” holdings of $9.6 billion as of June 7, 2026.
Bitmine bought 126,971 ETH for $214M, marking its largest 2026 purchase as ether prices dropped 65% from August highs.
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