BitMine is clearly accelerating on Ethereum (ETH). The company added 60,976 ETH to its reserves, now bringing its total stock to approximately 4.5 million ETH. This movement confirms a simple strategy: bet harder on the Ethereum crypto at a time when the market is trying to emerge from a phase of weakness.
In brief
- BitMine strongly strengthens its exposure to the Ethereum crypto with a purchase of 60,976 ETH.
- The company now controls approximately 3.76% of the ETH supply and is accelerating its strategy.
- The market remains fragile, but this bet shows that some players are already anticipating what happens next.
BitMine pushes its ETH strategy even further
The signal is important, as BitMine is already touted as the largest holder of the ETH crypto. After this new purchase, the company controls approximately 3.76% of Ethereum's circulating supply, a rare level for a listed company. This figure alone is enough to show that this issue is no longer a matter of simple tactical placement.
At the same time, the Ethereum crypto is back above the $2,000 zone, after a more fragile passage during the weekend. This rebound doesn't change everything, but it gives some depth to BitMine's offensive. Society does not buy a crypto in the midst of euphoria. It strengthens its position in an area still debated by the market.
The most striking point remains the rhythm. BitMine explains that it has increased the pace of its purchases, going from an average of 45,000 to 50,000 ETH per week to a recent acquisition of 60,976 ETH. This reflects an assumed increase in power, and not a simple one-off operation.
The company isn't just stacking crypto. It also indicates that it has more than 3 million ETH staked, with a valuation which was around $6 billion based on an ETH at $1,965 at the time of its communication. Adding cash and other digital assets, BitMine is talking about total assets of $10.3 billion.
Ethereum remains under pressure, but the market is breathing a little
On the market, the message is less clear-cut. Ethereum is moving above $2,000 again, with a price observed around $2,040 to $2,060 on March 10, 2026 according to the major tracking platforms. This return above a psychological threshold matters, because the area had been briefly lost a few days earlier.
Tom Lee believes yet crypto is still going through the end of a “mini-crypto winter”. Its scenario remains cautious in the short term: according to the analysis mentioned by BitMine and relayed by Benzinga, Ethereum could still mark a low point between March 8 and 14, potentially below the recent low near $1,740.
This is where reading gets interesting. On the one hand, the market is showing a bit of resistance. On the other hand, analysts close to the matter do not rule out a final shock. This gap is typical of a crypto market in transition: buyers are returning, but they have not yet completely regained control.
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