Ethereum News: BitMine Buys 10,452 ETH as ETF Outflows Mount

BitMine Immersion Technologies purchased another 10,452 Ethereum (ETH) despite weakness across cryptocurrency markets. The company disclosed its latest acquisition on Oct. 26, bringing total holdings to 6,051,933 ETH.

Meanwhile, U.S. spot Ethereum exchange-traded funds (ETFs) recorded approximately $220.7 million in weekly net outflows. The contrasting developments highlighted corporate treasury accumulation alongside weaker fund demand.

BitMine Adds 10,452 ETH as Holdings Reach 6.05 Million

BitMine reported the purchases in its October 26 treasury update. The company held 6,051,933 ETH as of October 25, worth about $14.26 billion at its reference price of $2,356 per token. Its latest acquisition was estimated at $24.6 million at that price.

The Ethereum treasury company now holds about 4.95% of the network’s estimated 122.2 million ETH supply. According to Ethereum news, BitMine aims to own 5% under its “Alchemy of 5%” strategy. Based on the reported supply, the company needs about 58,067 additional ETH to reach that target.

BitMine has maintained weekly acquisitions, although recent purchase volumes have declined. The company added 12,535 ETH in the preceding week and 15,112 ETH during the week ending October 4. Chairman Tom Lee continues to support the accumulation plan despite the recent decline in cryptocurrency prices.

Ethereum Records $35M in Futures Liquidations

Ethereum saw approximately $35 million in futures positions liquidated during 24 hours across exchange platforms, according to CoinGlass figures. Long positions accounted for about 65%, or $32.6 million. Short positions made up the remaining $34 million.

The largest reported liquidation involved a Binance ETH/USDT long position valued at about $6.97 million. Futures open interest stood near $30 billion, showing the amount of outstanding contracts across trading platforms.

ETH traded around $2,320 during the reporting period after testing prices near $2,400. Traders continued monitoring the $2,300 level after Ethereum approached a recent low near $2,285.

Meanwhile, U.S. spot Ethereum ETFs registered $110.6 million in net outflows on October 22 before attracting $3.4 million on October 23. Across the five sessions ending October 23, the funds recorded approximately $220.7 million in net withdrawals. Those flows provided another measure of market activity alongside treasury purchases and futures trading.

Ethereum developers also postponed the planned October 26 Glamsterdam activation on the Hoodi testnet while reviewing proposed gas-accounting changes. The delay applied to the test network, not Ethereum mainnet. Developers had not announced a replacement date at the time of writing.

Ethereum News: BitMine Expands Staking

BitMine also repurchased 2.04 million shares during the week at an average price of $22.48. The company spent about $45.9 million on those shares. Total repurchases in 2026 reached 22.9 million shares, costing $399.6 million.

Ethereum news reported that 5,227,037 ETH were staked, worth approximately $12.3 billion at its stated reference price. That represented about 86% of its Ethereum holdings. BitMine estimates annualized staking rewards of $318 million at current levels.

Management projects annual rewards of $368 million if BitMine stakes its entire ETH treasury through its validator network and partners. The company also reported $514 million in cash and marketable securities, 215 Bitcoin and investments in Beast Industries and Eightco Holdings. Its combined reported assets and investments totaled $15 billion.

This article provides information, not financial advice. Cryptocurrency investments carry price volatility, staking risks and potential losses. Readers should conduct independent research before investing.