BitMine increases positions: $92 million to buy ETH and 4.7% of the total Ethereum supply
Last week, BitMine Immersion Technologies executed a major transaction on the Ethereum market, acquiring 52,203 ETH for approximately $92 million. This acquisition was part of an aggressive asset accumulation strategy, resulting in the company's reserves reaching an impressive 5.67 million ETH, valued at nearly $10 billion at current market prices.
Thus, BitMine now controls about 4.7% of the total circulating supply of Ethereum. This makes the company one of the largest institutional holders of the second-largest cryptocurrency by market capitalization. It is important to note that the latest deal was more modest in volume compared to the previous two weeks, which may indicate an adjustment in the pace of accumulation or limited liquidity in the market.
Plans for 2026: Stability Instead of a Race
Company Chairman Tom Lee commented on the situation, stating that BitMine intends to maintain a steady pace of Ethereum accumulation in 2026. This statement reflects management's long-term confidence in the asset's prospects, despite current market volatility. Instead of sharp jumps, the company appears to be betting on methodical and consistent share growth.
Analytical Conclusion: BitMine's actions are a clear signal of institutional interest in Ethereum. Control of nearly 5% of the circulating supply in one hand creates conditions for reduced liquidity and potential price growth in the long term. However, such concentration also carries risks: market manipulation or sudden sales by a major player could cause significant fluctuations. For now, BitMine's strategy looks like a bet on Ethereum's fundamental value rather than short-term speculation.