BitMine expands its positions: buying ETH for $92 million and a strategy for 2026
Over the past week, BitMine Immersion Technologies executed a massive transaction, acquiring 52,203 ETH worth approximately $92 million. This purchase is part of a consistent asset accumulation strategy that has already led to a significant increase in reserves. Currently, the total volume of ETH in BitMine's portfolio has reached 5.67 million coins, equivalent to nearly $10 billion. This figure accounts for approximately 4.7% of the total circulating supply of Ethereum on the market.
Accumulation pace slows, but strategy remains unchanged
Despite the impressive size of the latest purchase, it was smaller than in the previous two weeks. This indicates a possible adjustment in pace, but not a change in the overall direction. Company Chairman Tom Lee confirmed that BitMine intends to maintain a steady pace of ETH accumulation in 2026. This approach demonstrates long-term confidence in Ethereum's prospects as an asset and platform.
It is worth noting that accumulating such a significant share of the supply (nearly 5%) makes BitMine one of the largest institutional holders of ETH. This directly impacts market liquidity and may amplify bullish sentiment among other participants. However, the concentration of assets in the hands of one company also carries certain risks for decentralization.
My expert perspective: BitMine's actions are a clear signal to the market that institutional interest in Ethereum is not waning, despite volatility. However, investors should consider that such large-scale purchases can create an illusion of sustained demand, which is not always backed by fundamental network metrics. In 2026, the key factor will be not so much the volume of accumulation, but rather the actual adoption of Layer 2 solutions and the growth in the number of active users.