BitMine has increased its ETH reserves: a new purchase of $92 million and a strategy for 2026
Major mining operator BitMine Immersion Technologies continues its aggressive accumulation of ether. Over the past week, the company acquired 52,203 ETH worth approximately $92 million. This addition increased BitMine's total reserves to 5.67 million ETH, which at current prices is valued at nearly $10 billion and represents 4.7% of the entire circulating supply of Ethereum.
Notably, the volume of the latest transaction was more modest compared to the previous two weeks. However, company chairman Tom Lee emphasized that BitMine has no intention of slowing down the pace of asset accumulation and plans to maintain a stable purchasing schedule throughout 2026. This indicates long-term confidence from management in Ethereum's prospects as a key asset for an institutional portfolio.
Analytical Perspective
BitMine's actions send a clear signal to the market that major players view current ETH price levels as attractive for entry. The accumulation of 4.7% of Ethereum's total supply by a single operator creates a significant liquidity deficit in the spot market, which could become a powerful catalyst for price growth in the medium term. However, it is worth considering that such volumes also concentrate significant risk — in the event of any sentiment reversal, mass profit-taking could put pressure on the market. Nonetheless, BitMine's strategy appears to be a bet on institutional adoption of Ethereum and its role in the DeFi and staking ecosystem.