BitMine boosts reserves: acquires $92 million worth of ETH and outlines strategy for 2026
Major mining operator BitMine Immersion Technologies has executed a large-scale Ethereum acquisition deal. Over the past seven days, the company purchased 52,203 ETH for approximately $92 million. This acquisition increased BitMine's total reserves to 5.67 million ETH, valued at nearly $10 billion at current market prices. Thus, the company controls about 4.7% of the total circulating supply of the second-largest cryptocurrency by market capitalization.
Slowing pace but stable strategy
Notably, the latest transaction was smaller in scale compared to purchases in the previous two weeks. This may indicate a tactical adjustment amid market volatility. However, company chairman Tom Lee confirmed the intention to maintain a steady pace of ETH accumulation in 2026. This approach reflects management's long-term belief in Ethereum's growth as a key asset.
Professional analysis: The accumulation of such a significant share of the circulating supply by a single institutional player is a powerful bullish signal for the market. BitMine is effectively creating a strategic reserve that can be used both to support mining operations and to participate in staking. If the company continues to follow its stated plan, it will intensify liquidity scarcity in the ETH market and could support prices in the medium term. However, it is worth closely monitoring whether BitMine will begin to take profits when certain levels are reached.