BitMine is buying up Ethereum: $92 million in a week, reserves have reached 4.7% of the entire ETH market.
Major mining player BitMine Immersion Technologies continues its aggressive accumulation of Ethereum. Over the past seven days, the company purchased 52,203 ETH, spending approximately $92 million. This marks the third major purchase in recent weeks, although the transaction volume was smaller than in the two previous periods.
As a result of these actions, BitMine's reserves have grown to 5.67 million ETH. At current market prices, this is equivalent to nearly $10 billion. This volume accounts for 4.7% of the entire circulating supply of Ethereum — meaning nearly one in every twenty ether in circulation now belongs to a single company.
Strategy for 2026: Stability, Not a Race
Company Chairman Tom Lee confirmed that BitMine intends to maintain a steady pace of asset accumulation into 2026. This means we will likely see further weekly purchases, although their volume may vary depending on market conditions and liquidity.
My expert perspective: Such a massive concentration of ETH in the hands of a single institutional player is a strong bullish signal for the market. However, it also creates certain risks: at the slightest hint of a change in BitMine's strategy, we could see sharp downward pressure on the price. For now, the company demonstrates long-term faith in Ethereum, and this undoubtedly strengthens the position of the second-largest cryptocurrency by market capitalization.