BitMine expands ETH reserves: $92 million purchase and 2026 strategy
BitMine Immersion Technologies continues to aggressively accumulate Ethereum. Over the past week, the company acquired 52,203 ETH, spending approximately $92 million on this. This is a significant investment, although it falls short of the volumes from the previous two weeks.
As a result of this transaction, BitMine's total reserves have reached an impressive 5.67 million ETH. At the current market price, this is equivalent to nearly $10 billion. For context, this volume accounts for approximately 4.7% of the entire circulating supply of Ethereum, making the company one of the largest institutional holders of the second-largest cryptocurrency.
Company Chairman Tom Li confirmed that BitMine intends to maintain a steady pace of asset accumulation throughout 2026. This statement underscores long-term confidence in the prospects of Ethereum as a key asset of the digital economy.
Cryptalist Analytics: BitMine's move is not merely a speculative play but a clear signal of a structural shift in the strategy of major players. Accumulating 4.7% of the ETH supply creates a powerful foundation for reducing market liquidity, which could exert significant upward pressure on the price in the medium term. Investors should closely monitor BitMine's further actions — their strategy could become a catalyst for a new rally.