BitMine has increased its ETH reserves to $10 billion: the buying spree continues
Major institutional player BitMine Immersion Technologies continues to aggressively accumulate Ethereum. Over the past week, the company acquired 52,203 ETH for approximately $92 million, marking another step in its long-term strategy to increase its share of the circulating supply of the second-largest cryptocurrency by market capitalization.
Following this transaction, BitMine's total reserves reached 5.67 million ETH, equivalent to nearly $10 billion at current market prices. Thus, the company controls about 4.7% of the total Ethereum in circulation. This places BitMine among the largest holders of the asset, on par with entities such as exchanges and funds.
Interestingly, the latest purchase was more modest in volume compared to the previous two weeks, which may indicate a temporary slowdown in the pace of accumulation. However, company Chairman Tom Lee gave a clear signal to the market: BitMine intends to maintain a steady rate of ETH acquisition throughout 2026. This statement underscores management's confidence in Ethereum's long-term potential, despite current volatility.
From my perspective, BitMine's strategy is not merely a speculative move but a well-thought-out institutional approach to capital management. Controlling nearly 5% of Ethereum's supply gives the company not only financial gains from price appreciation but also significant influence over market liquidity. If the accumulation pace continues, by the end of 2026, BitMine could become a key benchmark for anyone tracking the movement of "smart money" in the crypto industry.