BitMine increases ETH reserves: $92 million purchase and strategy for 2026
Major mining operator BitMine Immersion Technologies continues to aggressively accumulate Ethereum. Over the past week, the company acquired 52,203 ETH worth approximately $92 million. This move increased BitMine's total reserves to 5.67 million ETH, valued at nearly $10 billion at current market prices.
Thus, the company's share of Ethereum's circulating supply has reached 4.7%. This is a significant indicator that highlights the growing institutional concentration of the asset. Interestingly, the latest transaction was smaller in volume than purchases in the previous two weeks, which may indicate an adjustment in the pace of accumulation.
Strategic Plans for 2026
BitMine Chairman Tom Li confirmed that the company will maintain a steady pace of ETH accumulation in 2026. This statement reflects long-term confidence in Ethereum's prospects as a key asset for the mining business. BitMine is likely betting on the growth of ETH's value and increased staking revenues following the network's transition to Proof-of-Stake.
From my perspective, this strategy is not just speculation but a calculated move. Controlling nearly 5% of the total ETH supply gives BitMine significant influence over liquidity and market dynamics. However, this also creates centralization risks that may raise questions from regulators. In the long term, if the company continues to accumulate the asset at this pace, we could see increased volatility in the ETH market.