BitMine strengthens its ETH reserves despite the crypto bear market and now controls 4.66%

As the market asks questions about Ethereum, some institutional investors have chosen to acquire more. BitMine, visibly, fits into this perspective, with massive accumulations of ETH, with the objective of positioning contrary to the current trend, to better bounce back when exiting the tunnel on an ecosystem more than ever prey to doubt. This strategy today has the company approaching an unexpected threshold, with a portfolio worth more than $10 billion and a growing share of the global supply of Ethereum under its leadership.

BitMine continues massive ether purchases despite volatility

BitMine purchased an additional 76,881 ETH over the past week. This new operation brings the company's total assets to 5,620,754 ETH. The company claims to have purchased the cryptos at an average price of $1,718 per unit.

Today, his portfolio is worth around $10.2 billion. The importance of this accumulation is all the more remarkable as it continued even though ether briefly fell below the $1,600 threshold during the observed period.

Some figures allow us to measure the extent of this strategy:

• 76,881 ETH purchased in the last week;
• 5,620,754 ETH held in total by BitMine;
• $1,718 average acquisition price;
• $10.2 billion portfolio valuation;
• Nearly $9 billion in unrealized capital loss.

Although this is a theoretical loss, the company shows no signs of slowing down. For its part, it is developing an aggressive accumulation strategy which demonstrates, to say the least, a strong conviction in the future potential of Ethereum.

Progress towards a strategic threshold on the supply of Ethereum

Apart from the sums committed, one of the most illustrative things about this operation is the proportion of the ETH supply now held by BitMine. Through their successive acquisitions, the company now owns 4.66% of all ether issued. This figure brings it directly closer to its announced objective: reaching 5% of the total supply of the Ethereum network.

Such concentration is still thin in the crypto ecosystem. Its magnitude increases when placed alongside the main institutional investment vehicles available on the market. The BlackRock iShares Ethereum Trust (ETHA), considered the leading spot Ethereum ETF in the United States, holds approximately $4.75 billion in assets under management and controls nearly 2.36% of the circulating supply of ETH. Suffice to say that BitMine's reserves are already significantly higher than those of the fund administered by BlackRock.

This development also marks a gradual transformation of the institutional landscape around Ethereum. While spot ETFs saw four weeks of consecutive net outflows last week, BitMine continues to expand. This opposition reveals two different strategies on the market: one reduces their exposure through listed products, while the other systematically strengthens its position in the midst of the ambient uncertainty. As the company approaches the symbolic threshold of 5%, its place in the Ethereum ecosystem is attracting more and more attention from industry observers.

Staking transforms BitMine reserves into a yield machine

However, amassing ether is only part of the equation. A large part of BitMine's capital is strictly speaking involved in the network's staking mechanism. More than 4.1 million ETH are currently staked, representing approximately $8.1 billion involved in validating transactions and securing the Ethereum blockchain.

This data provides essential insight into the company's economic strategy, via its gains linked to blocking part of its reserves in the validation module, depending on the number of rewards paid by the BitMine protocol. Society cannot therefore be a simple speculative bubble of collateralized cryptos. It therefore gradually converts its assets into productive infrastructure capable of generating perpetual income thanks to the operation of the Ethereum network itself.

This strategy comes as Ethereum is going through an important evolutionary phase. Network activity is increasingly being transferred to layer 2 solutions, a transfer that is likely to impact the revenue generated at the core layer, as well as the intensity of the token destruction mechanism. At least nine officials, researchers, and key contributors have left the Ethereum Foundation over the course of 2026. This fuels some questions about the future trajectory of the network.

Faced with these challenges, BitMine is sending a particularly clear signal to the market. The company continues to purchase ether, increases its staking exposure, and maintains its goal of controlling a significant portion of the global supply. This strategy does not guarantee the future evolution of the price of ETH. However, it reflects the deep conviction of an important institutional player in the capacity of Ethereum to play a central role in the blockchain economy. If this trend continues, BitMine could quickly become one of the most influential players in the ecosystem, as the future of the network continues to be the subject of intense debate within the crypto industry.