BitMine increases reserves: purchase of 52,203 ETH for $92 million and plans for 2026
BitMine Immersion Technologies continues its aggressive Ethereum accumulation strategy. Over the past week, the firm purchased 52,203 ETH, spending approximately $92 million. This is already the third major deal this month, although the volume of the latest purchase is somewhat lower than the previous two.
As a result, BitMine's current reserves have reached an impressive 5.67 million ETH, which at market prices amounts to nearly $10 billion. For context, this is equivalent to approximately 4.7% of the total circulating supply of Ethereum. Such a level of asset concentration in the hands of a single company is attracting the attention of the entire crypto community.
Strategy and Prospects
BitMine Chairman Tom Lee confirmed the company's intention to maintain a steady pace of ETH accumulation in 2026. This indicates long-term confidence in the growth of the asset's value and a desire to solidify BitMine's status as one of the largest institutional holders of Ethereum.
Purchases of this magnitude inevitably impact the market. On one hand, they create additional demand and support the price of ETH. On the other hand, the concentration of a significant portion of the supply in one entity's hands may raise concerns about liquidity and centralization.
My analysis: BitMine's current strategy is a classic example of institutional accumulation in anticipation of a bullish cycle. However, it is worth noting that 4.7% of the total supply is already a significant share, capable of influencing market dynamics. If the company continues at the same pace, by the end of 2026 it could control 6-7% of all ETH, making it a key player whose actions will be closely monitored by traders and analysts.