BitMine’s $126M Ethereum buy sets up a Russell index test tied to $12.2T in assets
Ethereum BitMines $126M Ethereum buy sets up a Russell index test tied to $12.2T in assets BitMine bought an additional 60,000 ETH worth about $126 million as Ethereum traded near $2,000, extending one of the largest corporate accumulation strategies tied to the second-largest digital asset. The purchase came just as the firm was named to the preliminary list for the Russell 1000 Index, positioning the crypto holder to capture a slice of the $12.2 trillion in assets benchmarked against Russell US Indexes. Why BitMine is adding to its Ethereum holdings during current selloff On May 23, blockchain analyst EmberCN reported BitMines latest ETH purchase was executed through BitGo and Kraken. BitMine Latest ETH Purchase (Source: EmberCN/X) The purchase lifted BitMines Ethereum holdings to more than 5.2 million ETH, valued at roughly $11.1 billion at current market prices. The company has continued to accumulate even as ETH trades near $2,000, which is about 60% below its August 2025 record high of $4,953. Notably, this latest purchase occurs about two weeks after the company signaled its intent to slow the pace of its ETH accumulation. However, BitMine Chairman Thomas Lee previously described ETHs recent decline below $2,200 as an attractive entry point. According to him, the pullback has provided an opportunity to