BitMine increased its ETH reserves by $92 million: the accumulation strategy continues
Last week, BitMine Immersion Technologies completed a major transaction, acquiring 52,203 ETH. The purchase volume amounted to approximately $92 million, confirming an aggressive strategy for accumulating the second-largest cryptocurrency by market capitalization.
As a result of this operation, BitMine's total reserves reached 5.67 million ETH. At current market prices, this is equivalent to nearly $10 billion. Notably, this volume accounts for 4.7% of the entire circulating supply of Ethereum — an impressive share for a single public company.
Accumulation pace and plans for 2026
Although the latest purchase was more modest compared to the previous two weeks, the overall trend remains stable. BitMine's Chairman of the Board, Tom Lee, confirmed that the company intends to maintain the current pace of asset accumulation throughout 2026. This signals long-term confidence from management in the growth of Ethereum as a core asset.
Analytical assessment: A 4.7% share of the total ETH supply is already a level comparable to some institutional funds. If BitMine continues accumulation at the stated pace, by the end of 2026 the company could become one of the largest holders of Ethereum in the world, which would put additional pressure on market liquidity and support the price under conditions of limited supply.