BitMine has increased its ETH reserves: a new purchase of $92 million and a strategy for 2026
A major player in the cryptocurrency market, BitMine Immersion Technologies, continues to aggressively accumulate Ethereum. Over the past week, the firm purchased 52,203 ETH worth approximately $92 million. This significant influx has increased the company's total reserves to 5.67 million ETH, which at current prices amounts to nearly $10 billion.
Thus, BitMine now controls approximately 4.7% of the entire circulating supply of Ethereum. This makes the company one of the largest institutional holders of the second-largest cryptocurrency by market capitalization.
Notably, the volume of the latest transaction was lower 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 Li confirmed that BitMine intends to maintain a steady pace of asset accumulation throughout 2026.
Analytical Commentary: Such an accumulation strategy by a major miner is a strong bullish signal for the market. Control of nearly 5% of the ETH supply in one hand creates a serious liquidity shortage. If other institutions follow this example, we could see an acceleration in Ethereum's price growth in the medium term. However, it is worth remembering the centralization risks that such dominance by a single player entails.