BitMine has increased its Ethereum reserves: a new purchase worth $92 million
Major mining operator BitMine Immersion Technologies continues its aggressive accumulation of Ethereum. Over the past seven days, the company purchased 52,203 ETH, spending approximately $92 million. This marks the third consecutive large-scale transaction, although the purchase volume was slightly more modest than in the previous two weeks.
As a result, BitMine's current reserves have reached an impressive 5.67 million ETH, which at current market prices amounts to nearly $10 billion. For comparison, this is equivalent to 4.7% of the entire circulating supply of Ethereum. Such a level of asset concentration in the hands of a single institutional player is unprecedented for the cryptocurrency market.
Strategy for 2026: Stability Over Impulse
Company Chairman Tom Lee confirmed that BitMine does not intend to slow down its accumulation pace next year. According to him, the company plans to maintain a steady purchase schedule throughout 2026. This indicates long-term confidence in Ethereum's price growth and no plans to lock in profits in the foreseeable future.
Interestingly, BitMine is acting contrary to the overall market trend: many institutional investors have been cautious in recent months, taking profits after the rally. However, this miner apparently sees current prices as an attractive entry point for building up a strategic reserve.
Analytical commentary: Purchases of this magnitude inevitably support the price of ETH and may signal the beginning of a new phase of institutional accumulation. If BitMine continues in the same vein, by the end of 2026, the company could control over 6–7% of the entire Ethereum supply, making it one of the largest holders of the asset in the world. However, this also creates centralization risks — in the event of a sharp change in BitMine's strategy, the market could face significant selling pressure.