BitMine bought 111,942 Ether this week — worth over $237 million at current prices — marking its largest single-week ETH acquisition of 2026. The purchase brings the mining giant’s total stash to 5,390,404 ETH, or about $11.4 billion, giving it control of 4.4% of the circulating supply. The company is now 88% of the way toward its stated target of holding 5% of all Ether.
The $237 million week
The buy-in came as ETH trades just above $2,100, down significantly from its peaks but still holding above key support. BitMine’s accelerated accumulation suggests the firm sees current levels as a discount. The timing also follows a rough stretch for its own stock: BitMine shares (BMNR) jumped 3.3% on the day of the disclosure, but they're still down nearly 38% over the past six months.
Lee's supercycle call
BitMine chairman Tom Lee isn’t backing off his bullish thesis. He’s predicting a crypto supercycle driven by Wall Street tokenization and agentic-AI adoption, with a personal price target of $62,000 for ETH. That's roughly 30 times the current price. Technical analysis using Elliott Wave methodology identifies support at $2,000 and a deeper floor around $1,800, with resistance at $2,200 and $2,400. A breakout above those levels could open a path toward $2,600.
Bitcoin Hyper presale hits $32M
Separately, the Bitcoin Hyper presale has raised $32 million so far, with tokens priced at $0.0136 each. Staking is already live. The project positions itself as the first Bitcoin Layer 2 to integrate the Solana Virtual Machine (SVM), aiming to bring Solana-style speed and programmability to the Bitcoin ecosystem. The presale is ongoing, and demand shows no signs of slowing.
For BitMine, the next milestone is clear: keep stacking until it hits that 5% supply target. With 88% of the journey done, another $1.4 billion in ETH would get it there — if the price cooperates.
