BitMine has increased its Ethereum reserves: a $92 million accumulation and a strategy for 2026
Major mining operator BitMine Immersion Technologies continues to aggressively accumulate Ethereum. Over the past seven days, the company purchased 52,203 ETH, spending approximately $92 million on this transaction. This move is part of a consistent strategy to increase its share in the ecosystem of the second-largest cryptocurrency by market capitalization.
Record Reserves and Market Share
After the latest purchase, BitMine's total reserves reached 5.67 million ETH. At current market prices, this is equivalent to nearly $10 billion. Thus, the company now controls 4.7% of the entire circulating supply of Ethereum. This places BitMine alongside the largest institutional holders of the asset, including some exchange-traded funds (ETFs) and corporate treasuries.
Accumulation Pace and Future Plans
Notably, the volume of the latest transaction turned out to be smaller than in the previous two weeks. This may indicate an adjustment in the pace of purchases, but not a change in strategy. Company Chairman Tom Lee confirmed that BitMine intends to maintain a steady pace of Ethereum accumulation throughout 2026. This statement undoubtedly signals to the market a long-term confidence in the asset's prospects.
Analytical Conclusion
BitMine's actions are not merely a speculative purchase. This is strategic accumulation that puts direct pressure on the liquid supply of ETH on exchanges. Given that the company already owns nearly 5% of all coins, such purchases could create a serious supply deficit in the medium term. If other miners or institutions follow BitMine's example, we may see a new wave of ETH consolidation among large players, which typically precedes a significant price increase.