BitMine increases ETH reserves: new purchase of $92 million
Major mining player BitMine Immersion Technologies continues to actively accumulate Ethereum. Over the past week, the company acquired 52,203 ETH worth approximately $92 million. This is already the third major purchase in a month, although the transaction volume turned out to be somewhat more modest than the previous two weeks.
Reserves reached a record level
BitMine's total reserves now stand at 5.67 million ETH, equivalent to nearly $10 billion at current market prices. This is an impressive figure, representing 4.7% of the entire circulating supply of Ethereum. In fact, the company controls almost every twentieth ETH in circulation.
BitMine Chairman Tom Lee confirmed the intention to maintain a steady pace of asset accumulation throughout 2026. This indicates the company's long-term strategy, which clearly bets on the growth of ETH's value and its role in the decentralized finance ecosystem.
My analysis: Such aggressive buying of Ethereum by a major institutional player is a powerful bullish signal for the market. BitMine clearly sees ETH not just as a speculative asset, but as a strategic resource, possibly for future staking operations or liquidity provision. If other miners follow this example, the pressure on ETH supply could increase significantly, becoming an additional catalyst for price growth in the medium term.