BitMine acquired Ethereum worth $92 million: the accumulation strategy continues
Last week, BitMine Immersion Technologies made a major Ethereum purchase, acquiring 52,203 ETH worth approximately $92 million. This addition increased the company's reserves to an impressive 5.67 million ETH, which at current market prices amounts to nearly $10 billion. Thus, BitMine now controls approximately 4.7% of the total circulating supply of Ethereum — a figure that underscores the company's dominance among institutional holders of the second-largest cryptocurrency by market capitalization.
However, the latest transaction was more modest compared to the previous two weeks, when purchase volumes were higher. Company Chairman Tom Li confirmed that BitMine intends to maintain a steady pace of asset accumulation in 2026. This statement reflects long-term confidence in Ethereum's growth, despite potential short-term market fluctuations.
Analysis and Outlook
Such an aggressive ETH accumulation strategy by BitMine is not merely a speculative move but a clear signal of fundamental belief in the future of the Ethereum blockchain. Controlling nearly 5% of the circulating supply gives the company significant influence over liquidity and could increase price pressure if purchases continue. At the same time, the steady pace announced for 2026 suggests that BitMine is avoiding market hype, preferring a systematic buildup of positions.
Expert Opinion: BitMine's actions resemble the classic "whale" strategy seen in the early stages of Bitcoin's development. If the company indeed adheres to the stated pace, its share could exceed 6-7% of the total ETH supply by the end of 2026. This would make BitMine one of the key players capable of influencing Ethereum market dynamics, especially during periods of high volatility. Investors should closely monitor the company's reports — they could serve as indicators of future trends.