BitMine is buying up Ethereum: reserves have reached $10 billion amid an aggressive accumulation strategy
Major mining operator BitMine Immersion Technologies continues its aggressive expansion in Ethereum. Over the past week, the company acquired 52,203 ETH worth approximately $92 million. This acquisition marks the third major tranche in the last month, although the transaction volume is slightly lower than the figures from the previous two weeks.
With the latest purchase, BitMine's total Ethereum reserves have reached an impressive 5.67 million coins. At current market prices, this package is valued at nearly $10 billion, accounting for 4.7% of the total circulating supply of ETH on the market. This level of asset concentration by a single institutional player is a clear signal of long-term confidence in the altcoin.
Accumulation Strategy Continues
Company Chairman Tom Li confirmed that BitMine intends to maintain its current pace of Ethereum accumulation into 2026. This statement indicates a consistent strategy aimed at building the largest corporate ETH reserve among mining companies. Interestingly, BitMine does not simply hold assets but actively uses them to support operational activities and as collateral for raising financing.
From my perspective, such large-scale purchases by BitMine are not merely a speculative move but a calculated bet on the growth of institutional adoption of Ethereum. If the company continues to accumulate assets at this pace, by the end of 2026 it could control over 6-7% of the total circulating supply, making it one of the key players influencing liquidity and price dynamics of ETH.