BitMine expands its positions: $92 million in ETH in a week
BitMine Immersion Technologies continues its aggressive accumulation of Ethereum, acquiring 52,203 ETH worth approximately $92 million over the past seven days. This significant injection has brought the firm's total reserves to 5.67 million ETH, equivalent to nearly $10 billion at current market prices.
This massive position now accounts for 4.7% of the entire circulating supply of Ethereum — a figure rarely seen even among the largest institutional players. Notably, the volume of the latest transaction was somewhat more modest than in the previous two weeks, which may indicate a strategy adjustment amid market volatility.
Company Chairman Tom Lee confirmed that BitMine intends to maintain a steady pace of asset accumulation in 2026. This statement underscores management's long-term confidence in Ethereum's prospects, despite current market fluctuations.
Analytical Commentary: Such aggressive ETH buying by a major miner is a clear signal that institutional players view Ethereum not merely as a speculative asset, but as a fundamental component of future financial infrastructure. Accumulating 4.7% of the total supply is not just an investment, but strategic control over liquidity that could significantly impact price dynamics in the medium term.