BitMine increases ETH reserves: $92 million purchase and strategy for 2026
Last week, BitMine Immersion Technologies executed a major transaction, acquiring 52,203 ETH worth approximately $92 million. This addition increased the company's reserves to 5.67 million ETH, which at current prices amounts to nearly $10 billion. Thus, BitMine now controls 4.7% of the entire circulating supply of Ethereum — an impressive share for a single institutional player.
Accumulation Dynamics: Stability Above All
The latest purchase was more modest in volume compared to the previous two weeks, indicating a deliberate approach to capital management. Company Chairman Tom Li confirmed that BitMine intends to maintain a steady pace of asset accumulation in 2026. This signals to the market that the company sees long-term potential in Ethereum, despite current volatility.
From a macro analysis perspective, such actions by BitMine strengthen ETH's position as a key asset for institutional investors. When one player accumulates nearly 5% of the supply, it creates additional pressure on liquidity and may contribute to reduced volatility in the long term.
As an independent analyst, I see signs of a mature approach in this strategy: BitMine is not chasing short-term profits but is building a foundation for future growth. If the accumulation pace continues, by the end of 2026 the company could become one of the largest holders of ETH, significantly impacting market dynamics.