Bitmine Buys 42,197 ETH to Reach 5.74M Holdings as ETH Falls to $1,750

Bitmine Immersion Technologies purchased another 42,197 ETH worth roughly $74 million on July 6, lifting its treasury to 5,742,237 ETH and combined assets to $11.1 billion. The firm has staked 4,879,157 ETH, or 85% of holdings, through its MAVAN platform and now controls about 4.8% of Ethereum’s circulating supply. This follows an earlier $74 million purchase and reinforces Bitmine’s target of owning 5% of total ETH supply by year-end 2026, even as ETH trades at $1,749.63 after a 10.34% weekly decline.