BitMine has increased its ETH reserves: a $92 million purchase and a strategy for 2026
Over the past seven days, BitMine Immersion Technologies executed a major transaction, acquiring 52,203 ETH worth approximately $92 million. This move is part of a consistent strategy to accumulate the second-largest cryptocurrency by market capitalization.
As a result, BitMine's current reserves have reached an impressive 5.67 million ETH, equivalent to nearly $10 billion. This position accounts for about 4.7% of the total circulating supply of Ethereum — a metric that underscores the company's significant influence on market dynamics.
Accumulation pace slows, but strategy remains unchanged
Interestingly, the latest purchase was more modest in volume compared to the previous two weeks. Nevertheless, company Chairman Tom Lee confirmed that BitMine intends to maintain a steady pace of asset accumulation throughout 2026. This indicates a long-term view of Ethereum as a key asset in the portfolio.
Expert comment: Such aggressive accumulation by a major player like BitMine creates strong fundamental demand for ETH. If the company continues in the same vein, this could become one of the factors supporting Ethereum's price amid overall market volatility. However, it is worth remembering that the concentration of supply in a single organization carries risks for decentralization.