BitMine increased its ETH reserves to $10 billion: a new batch worth $92 million
BitMine Immersion Technologies continues its aggressive accumulation of Ethereum. Over the past week, the company purchased 52,203 ETH worth approximately $92 million. This is already the third major purchase in the last month, although the current volume is more modest than the two previous transactions.
As a result, BitMine's total reserves have reached 5.67 million ETH, equivalent to nearly $10 billion at current prices. To put this in perspective, this represents approximately 4.7% of the entire circulating supply of Ethereum. This level of asset concentration makes the company one of the largest institutional holders of the second-largest cryptocurrency by market capitalization.
BitMine Chairman Tom Lee confirmed that the accumulation strategy remains unchanged. In 2026, the company plans to maintain a steady pace of portfolio replenishment, despite market volatility. This signals long-term confidence in Ethereum's fundamentals, especially in the context of L2 solution development and growing institutional interest.
Analytical Commentary
Such large-scale purchases by mining giants are not merely a speculative move, but an indicator of a structural shift. BitMine is effectively transitioning from a "mine and sell" model to a "mine and hold" strategy, which could create additional pressure on ETH liquidity on exchanges. If other major players follow this example, we will see an acceleration of supply scarcity, which is traditionally positive for the asset's price in the medium term.