Crypto news

Major institutional player BitMine Immersion Technologies continues to aggressively expand its position in Ethereum. Over the past seven days, the company acquired 52,203 ETH, spending approximately $92 million on the purchase. This marks the third consecutive significant acquisition and demonstrates the mining giant's sustained appetite for the leading altcoin.

As a result of the latest transaction, BitMine's total reserves surged to 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. Such a level of asset concentration in the hands of a single company is rare and signals deep confidence in the network's long-term potential.

Accumulation pace slows, but strategy remains unchanged

It is worth noting that the latest deal was more modest in volume compared to the previous two weeks. However, according to company Chairman Tom Lee, BitMine has no intention of slowing down. In 2026, management plans to maintain a steady pace of asset accumulation, indicating the strategic rather than speculative nature of these purchases.

Such actions by BitMine naturally attract interest from market participants. When one of the largest miners shifts from mining to direct accumulation of ETH, it creates a powerful bullish signal. A reduction in the free supply of coins on exchanges and their transfer to "cold storage" by long-term holders traditionally precedes periods of price growth.

Expert opinion. BitMine's strategy is a classic example of institutional accumulation. When a company whose business is directly tied to cryptocurrency mining prefers to buy rather than sell an asset, it speaks to a belief in its fundamental value. Given that their share of ETH supply already exceeds 4.5%, any future change in their strategy could have a noticeable impact on market liquidity. This is a case where the actions of a "whale" deserve close attention.