As one of the largest known corporate holders of Ethereum, BitMine Immersion Technologies has once again increased its ETH holdings at the beginning of 2026, drawing significant market attention. Although some analysts expect Ethereum’s price to remain under pressure in the short term, BitMine’s latest move demonstrates a strong confidence in the medium to long-term value of ETH.
According to blockchain data platform Arkham, in its first public transaction of the new year, BitMine spent approximately $105 million to purchase Ethereum. This also signals the company’s renewed plan to increase ETH holdings in 2026. Data shows that BitMine currently holds about 4.07 million ETH, with a market value of approximately $12.6 billion at current prices, accounting for 3.36% of the total ETH supply, making it a leading enterprise-level ETH holder.
In addition to its substantial ETH reserves, BitMine’s financial strength is equally impressive. The company recently disclosed that it still holds around $915 million in cash, which the market interprets as important “ammunition” for future ETH accumulation. According to StrategicEthReserve, BitMine’s long-term goal is to increase its ETH holdings to 5% of the total network supply.
On-chain data also shows that BitMine has recently accelerated its ETH staking activities. Tracking by Lookonchain indicates that the company has staked over $2.87 billion worth of ETH, with approximately 128,000 tokens added in just the past few days. This suggests that BitMine is not only betting on price appreciation but is also actively participating in the long-term yield structure of the Ethereum network.
Tom Lee, Chairman of BitMine and Co-Founder and Managing Partner of Fundstrat Global Advisors, stated that this $105 million investment is not a short-term gamble. In an internal report, he pointed out that although Ethereum’s price may experience a significant correction in the first half of 2026, even testing around $1,800, this would present a “highly attractive long-term allocation opportunity.”
From a broader market perspective, the behavior of institutions and whales is gradually converging. Data from Nansen shows that over the past week, whales increased their ETH holdings by approximately $11.2 million across 38 wallets, while new wallets bought a total of up to $1.16 billion. Many analysts believe that after the 2025 market “stress test,” institutional capital is accelerating its return to core blockchain assets, with Ethereum remaining one of the most important allocation targets.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitmine stakes 101,776 ETH, worth nearly $220 million
Gate News report: On March 21st, according to Onchain Lens monitoring, Ethereum treasury company Bitmine has staked 101,776 ETH, valued at $219.45 million. Bitmine has now cumulatively staked 3,142,291 ETH, valued at $6.75 billion.
GateNews1h ago
Citigroup Slashes Bitcoin and Ethereum 12-Month Price Targets, Citing Stalled U.S. Crypto Legislation Weighing on Upside Catalysts
Citigroup has lowered its target prices for Bitcoin and Ethereum, indicating a cautious outlook on the medium-term prospects of the crypto market. The Bitcoin target price has been reduced from $143,000 to $112,000, while Ethereum's has been lowered from $4,304 to $3,175, mainly due to slow progress in U.S. cryptocurrency legislation. Although there is still room for upward movement over the next year, the market may remain volatile in the short term, with Ethereum's valuation becoming more reliant on fundamentals.
区块客1h ago
ETH rises 0.83% in 15 minutes: Large fund hedging and long position increases resonate to push prices higher
2026-03-20 21:15 to 21:30 (UTC), ETH price achieved a +0.83% return rate within 15 minutes, with the K-line price range of 2134.17 - 2153.4 USDT and an amplitude of 0.90%. Market attention notably increased, trading volume significantly expanded, and on-chain transfer volume grew 9% month-over-month, marking a further increase in market activity.
The main driver of this price movement was whale large transfers bringing increased exchange inflows and significant long position accumulation. Within the anomaly window, three large transfers exceeding 5000 ETH each flowed in and out respectively at
GateNews4h ago
