BitMine increased its ETH reserves by $92 million: the accumulation strategy continues
Over the past week, BitMine Immersion Technologies acquired 52,203 ETH worth approximately $92 million. This is another step in a consistent strategy of accumulating the asset. As a result, the company's total reserves reached 5.67 million ETH, valued at nearly $10 billion at the current exchange rate. Thus, BitMine controls about 4.7% of the entire circulating supply of Ethereum.
Interestingly, the volume of the latest transaction turned out to be more modest than in the previous two weeks. However, this does not indicate a decline in the company's appetite for the asset. BitMine Chairman Tom Lee confirmed that in 2026, the company will maintain a steady pace of ETH accumulation, with no intention of slowing down.
Such aggressive buying of ether by a major institutional player is a powerful signal for the market. BitMine is clearly making a long-term bet on Ethereum, viewing it not just as a speculative asset but as a key element of its corporate treasury. Given that the company already owns nearly 5% of the total supply, its actions could significantly impact liquidity dynamics and the price of ETH in the medium term.
My analysis: Such concentration of an asset in the hands of a single institution is a double-edged sword. On one hand, it reduces the free supply on exchanges, which, all else being equal, supports the price. On the other hand, any strategic reversal by BitMine (e.g., profit-taking) could trigger sharp volatility. In any case, accumulation on such a scale indicates deep confidence in the future of Ethereum, and this is worth considering when building your own strategy.