BitMine expands its positions: $92 million in ETH over the past week
Over the past seven days, BitMine Immersion Technologies acquired 52,203 ETH worth approximately $92 million. While impressive, this deal was more modest compared to the volumes of the previous two weeks, indicating a possible strategy adjustment or market pause.
As a result of the latest accumulation, BitMine's total reserves reached 5.67 million ETH, equivalent to nearly $10 billion. This accounts for 4.7% of the entire circulating supply of Ethereum — a significant share that makes the company one of the largest institutional holders of the second-largest cryptocurrency by market capitalization.
Strategic Focus on 2026
Tom Lee, Chairman of the Board of Directors at BitMine, confirmed that the company intends to maintain a steady pace of asset accumulation in 2026. This statement underscores a long-term belief in the fundamental value of Ethereum, despite current market volatility. For an institutional player of this scale, such a strategy is not speculation but deliberate capital management with a multi-year horizon.
In my view, BitMine's actions signal a growing trend among major players: a shift from simple holding to active accumulation of ETH as a strategic asset. If the pace of purchases continues, the company could control over 6% of Ethereum's supply by the end of 2026, which would exert significant pressure on market liquidity and pricing.