BitMine expands its positions: buying ETH for $92 million in a week
Major mining giant BitMine Immersion Technologies continues its aggressive Ethereum accumulation strategy. Over the past seven days, the company has acquired 52,203 ETH, equivalent to approximately $92 million at current market rates. This is another step in the long-term plan to increase reserves.
With the latest transaction, BitMine's total ETH reserves have reached an impressive 5.67 million coins. At the current market price, this amounts to nearly $10 billion. Notably, this volume corresponds to 4.7% of the entire circulating supply of Ethereum. This is a significant share, making BitMine one of the largest institutional holders of the asset.
Accumulation Pace and Plans for 2026
Despite the substantial amount of the latest deal, it turned out to be more modest than the acquisition volumes of the previous two weeks. This may indicate a strategy adjustment or a temporary slowdown due to market conditions. However, company Chairman Tom Li confirmed that BitMine intends to maintain a steady pace of asset accumulation in 2026. This reflects the management's high confidence in Ethereum's long-term potential.
Analytical Commentary: Such large-scale accumulation by major players like BitMine puts significant pressure on market liquidity. If the company continues to buy ETH at the same pace, it could become one of the catalysts for price growth in the medium term, especially against the backdrop of a declining volume of coins on exchanges. However, investors should consider that such a high concentration of the asset with a single institution also creates certain risks for volatility.