BitMine increased its ETH reserves: a $92 million purchase and plans for 2026
Over the past seven days, BitMine Immersion Technologies expanded its portfolio by acquiring 52,203 ETH worth approximately $92 million. While significant, this acquisition was more modest in volume compared to purchases in the previous two weeks.
As a result of this transaction, the company's total reserves grew to an impressive 5.67 million ETH. At the current market price, this is equivalent to nearly $10 billion. Thus, BitMine now controls approximately 4.7% of the entire circulating supply of Ethereum — a share that makes the company one of the largest institutional holders of the second-largest cryptocurrency by market capitalization.
BitMine Chairman Tom Lee confirmed that the company intends to maintain a steady pace of ETH accumulation into 2026. This statement indicates a long-term strategy driven by confidence in the asset's value growth, despite current market volatility.
Analytical Commentary
Such an aggressive accumulation strategy by a major player like BitMine is a strong bullish signal for the Ethereum market. Control of nearly 5% of the supply in the hands of a single organization creates conditions for reduced liquidity on exchanges, which could support the price of ETH in the medium term. However, it is important to monitor whether this concentration could lead to excessive pressure in the event of potential profit-taking.