BitMine Doubles Down: Strategic Ethereum Purchases Signal Major Crypto Confidence

Another major player just loaded up on digital blue chips.

BitMine, a heavyweight in the crypto mining and investment arena, has executed a series of strategic purchases to significantly bolster its Ethereum holdings. This isn't casual accumulation—it's a calculated bet on the network's long-term infrastructure role.

The Accumulation Playbook

The moves bypass speculative chatter, focusing instead on core protocol value. While retail traders chase memecoins, institutional strategies like this target foundational blockchain assets with clear utility roadmaps—Ethereum's pivot to proof-of-stake and scaling solutions appears to be the draw.

Reading Between the Blockchain Lines

Active accumulation at this scale sends a market signal stronger than any press release. It suggests confidence that isn't swayed by short-term volatility. For the traditional finance crowd still waiting for 'the right entry point,' watching from the sidelines has become a full-time occupation.

One thing's clear: when the big miners move, they're not just digging for coins—they're building positions.

The latest reports reveal that BitMine continues to expand its influence in the cryptocurrency sector with strategic acquisitions, especially in Bitcoin (BTC)$85,977 and Ethereum (ETH)$2,824. Holding significant reserves of these assets plays a crucial role in revitalizing institutional demand and shifting Ethereum’s flow back into a positive alignment.

BitMine’s Ambitious Ethereum Accumulation

Starting in June, BitMine has aggressively accumulated reserves, now controlling more than 3% of the entire Ethereum supply. The company is nearing its ambitious target of holding 5%, having already achieved two-thirds of this goal. BitMine officials recently announced the achievement of a substantial reserve size of $12.1 billion composed of crypto, cash assets, and innovative “Moonshots.”

On January 15, 2026, BitMine will organize its annual shareholders meeting at Wynn Las Vegas. The company believes it maintains a robust position despite FUD, highlighted by the accelerating increase in crypto net asset value per share and the high trading liquidity of BMNR shares. BMNR ranks as the 39th most actively traded stock in the U.S., boasting an average daily volume of $1.7 billion.

The company’s cryptocurrency holdings amount to 3,726,499 ETH, acquired at an average cost of $3,008 per ETH. While recent acquisitions have decreased this average cost, the company continues to face approximately a $200 loss per ETH.

Strategic Market Adjustments

Tom Lee commented on BitMine’s recent activities, noting that the company purchased 96,798 ETH last week. December marks a pivotal month with the Fusaka upgrade, also known as Fulu-Osaka, set for December 3. This upgrade promises to enhance scalability, security, and usability of the network.

In tandem, the U.S. Federal Reserve is expected to make significant moves, potentially ending quantitative tightening (QT) in December and reducing interest rates again by December 10. More than seven weeks have passed since the October 10 liquidation shock event, indicating a market re-stabilization is underway.

Collectively, these factors create tailwinds for ETH prices. In response, BitMine has increased its weekly ETH purchases by 39%, showcasing confidence in market recovery and future price appreciation.