{"id":6458,"date":"2026-02-09T07:24:38","date_gmt":"2026-02-09T07:24:38","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=6458"},"modified":"2026-02-09T07:24:38","modified_gmt":"2026-02-09T07:24:38","slug":"ethereum-whale-buys-the-dip-as-corporate-giant-scoops-42m-in-eth-during-crash","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=6458","title":{"rendered":"Ethereum Whale Buys the Dip as Corporate Giant Scoops $42M in ETH During Crash"},"content":{"rendered":"<p><\/p>\n<div>\n<div id=\"blockquote-block_ac6de1d4c6b0e9f85650a007c620ff80\" class=\"blockquote-container\" style=\"border-color: #5100fc\">\n<div class=\"blockquote-text\">\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">BitMine recently purchased 20,000 ETH for $41.98 million, bringing its total treasury to 4.29 million ETH as it pursues a goal of owning 5% of the total circulating supply.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Despite holding $8.2 billion in assets, the company is facing roughly $8 billion in unrealised losses and an 88% drop in its stock price as Ethereum trades near the $2,000 mark.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Chairman Tom Lee dismissed the downturn as a \u201cmini crypto winter,\u201d opting to hold and stake the treasury for $374 million in annual rewards rather than selling at a loss.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p>BitMine bought about 20,000 Ethereum (ETH) for US$41.98 million (AU$64 million), according to Lookonchain using Arkham Intelligence data.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n<p>The purchase adds to a large Ethereum treasury that the company is using to pursue a stated target of holding 5% of Ethereum\u2019s circulating supply.<\/p>\n<p>Strategic ETH Reserve data puts BitMine\u2019s holdings at about 4.29 million ETH, described as more than 70% of the way to that goal. The company has been adding in multiple batches, including a 40,302 ETH buy in late January for about US$116 million (AU$177 million), followed by further accumulation in early February.\u00a0<\/p>\n<p>In other words, Bitmine is buying the dip as Ethereum remains down about 35% year-to-date and barely traded above the US$2,000 (AU$2.8K) barrier today.\u00a0<\/p>\n<p>That decline left BitMine with large unrealised losses of around US$8 billion (AU$12 billion), with holdings worth about US$8.2 billion (AU$12.5 billion) against a US$16.4 billion (AU$25 billion) cost basis.\u00a0<\/p>\n<p>BitMine\u2019s stock was down about 88% over the same period.<\/p>\n<p><strong>Read more: UK Lawmakers Hear Skepticism on Stablecoins as Lords Launch Regulation Inquiry<\/strong><\/p>\n<h2 class=\"wp-block-heading\" id=\"h-not-selling\">Not Selling<\/h2>\n<p>Chairman Tom Lee described the volatility as a \u201cmini crypto winter,\u201d said there is no plan to sell, and pointed to staking income of about US$374 million a year (AU$572.2 million).\u00a0<\/p>\n<p>He also tied the strategy to longer-term expectations for Ethereum use in tokenisation and broader Wall Street adoption. All things considered, Lee said paper losses are inevitable in a downturn, stating that they are a ETH treasury company focused on accumulation and staking rather than market timing.<\/p>\n<p><strong>Related: UK Lawmakers Hear Skepticism on Stablecoins as Lords Launch Regulation Inquiry<\/strong><\/p>\n<\/p><\/div>\n<p>Ethereum,Whale#Ethereum #Whale #Buys #Dip #Corporate #Giant #Scoops #42M #ETH #Crash1770621878<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BitMine recently purchased 20,000 ETH for $41.98 million, bringing its total treasury to 4.29 million ETH as it pursues a goal of owning 5% of the total circulating supply. Despite holding $8.2 billion in assets, the company is facing roughly $8 billion in unrealised losses and an 88% drop in its stock price as Ethereum<\/p>\n","protected":false},"author":1,"featured_media":6459,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[2332,85,76,366,1645,601,31,442,2331,1047],"class_list":{"0":"post-6458","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-42m","9":"tag-buys","10":"tag-corporate","11":"tag-crash","12":"tag-dip","13":"tag-eth","14":"tag-ethereum","15":"tag-giant","16":"tag-scoops","17":"tag-whale"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Whale Buys the Dip as Corporate Giant Scoops $42M in ETH During Crash - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=6458\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Whale Buys the Dip as Corporate Giant Scoops $42M in ETH During Crash\" \/>\n<meta property=\"og:description\" content=\"BitMine recently purchased 20,000 ETH for $41.98 million, bringing its total treasury to 4.29 million ETH as it pursues a goal of owning 5% of the total circulating supply. 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