BitMine acquires 10,452 Ethereum as US spot ETF outflows mount

BitMine Immersion Technologies purchased 10,452 Ethereum tokens, bringing its total treasury holdings to 6,051,933 ETH, according to The Market Periodical. The company disclosed the acquisition in a treasury update on October 26, 2026. The purchase occurred amid broader weakness in cryptocurrency spot markets. [1]

The Market Periodical reported that BitMine held its total Ethereum reserves at an estimated value of $14.26 billion as of October 25, based on a reference price of $2,356 per token. The latest purchase of 10,452 ETH was valued at approximately $24.6 million. Futures contracts for Ethereum also registered $35 million in liquidations on October 26. [1]

Corporate accumulation occurred alongside negative institutional investment flows. United States spot Ethereum exchange-traded funds recorded approximately $220.7 million in weekly net outflows, according to The Market Periodical. CoinDesk reported that BitMine also repurchased $46 million of its own shares. [1][10]

Ethereum functions as a decentralized blockchain platform that features smart contract functionality, with its native token ether holding the second-largest market capitalization behind bitcoin. BitMine has maintained an ongoing buying strategy, acquiring additional tokens even as market prices dropped below the $2,355 level, FXStreet and tmgm.com reported. [8][9][12]