BitMine buys more ETH from the Ethereum Foundation, accelerating cost averaging while holding 5.07 million ETH

Ethereum reserve company BitMine has recently accelerated its purchase of ETH. Its Ether holdings have surpassed 5.07 million coins, and its asset size stands at $13.3 billion. According to Arkham data, among them, 10,000 are ETH purchased from the Ethereum Foundation (Ethereum Foundation). BitMine’s chairman Tom Lee believes that the mini crypto winter is about to come to an end, but according to its latest financial report, as of February 28, 2026, its average buy price is as high as $3,794. Therefore, the company can only keep increasing its buying intensity, hoping to average down its cost at the bottom and prepare for the future rise of ETH.

(BMNR earnings report decryption: average price stuck at $3,794? Tom Lee leads BitMine to buy more the more it drops, and performance compensation is fully exposed)

BitMine buys another 100,000 ETH

Ethereum reserve company BitMine disclosed its latest crypto holdings yesterday. As of April 26, BitMine holds assets worth $13.3 billion, including:

5,078,386 ETH

200 Bitcoin

Eightco Holdings stock worth $91 million (ORBS)

Shares in Beast Industries worth $200 million

$940 million in unallocated cash

In the past week, BitMine acquired 101,901 ETH, bringing its holdings to 3.98% of Ethereum’s total supply. It achieved 84% of the “5% mining magic” within just ten months.

The Ethereum Foundation sells more coins to BitMine

According to Arkham data, the Ethereum Foundation (Ethereum Foundation) has sold Bitmine ETH worth approximately $33.51 million. The most recent transaction occurred only two days ago, transferring about 10,000 ETH.

Currently, the Ethereum Foundation’s ETH reserves are approximately $214.8 million. If projected based on the current selling rate, those reserves could be depleted by 2027.

Tom Lee insists the crypto winter is nearing its end, but the average price is still stuck near the highs

Despite the rapid accumulation of assets, BitMine’s financial data also reflects significant cost pressure. The financial report as of the end of February 2026 shows that its average purchase cost for Ether is $3,794. To optimize its financial structure, the company is currently adopting a strategy of expanding buying intensity during periods of market consolidation, aiming to level the overall holding costs. BitMine’s chairman Tom Lee pointed out that the tight cycle in the crypto market is approaching its end, and emphasized that the application value of Ether as collateral is increasing. This contrarian move based on long-term expectations reflects institutions’ assessment of digital assets.

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