The crypto whale and institutional giant Bitmine continues its aggressive accumulation of Ethereum. This week, the company added 264,000 ETH, bringing its total stock to an impressive 2.42 million ETH. At the current market exchange rate, this stock is worth US$ 9.72 billion.
This strategic move signals Bitmine's strong confidence in the long-term potential of Ethereum. As the cryptocurrency market gains strength, major players are reinforcing their positions — especially in blue-chip assets like the $ETH .
Ethereum remains one of the top institutional choices
Ethereum has maintained its dominance as a fundamental asset for institutions. The growing interest in Bitmine reflects a broader trend among hedge funds, DAOs, and native crypto companies accumulating $ETH for both value storage and network utility.
The recent influx also raises speculations about Bitmine's broader strategy — could this be a preparation for staking, DeFi participation, or simply a long-term investment?
With Ethereum's shift to proof of stake and its growing role in decentralized finance, the demand from major players is only expected to increase.
What does this mean for the marketBitmine's aggressive accumulation of $ETH may restrict supply, potentially influencing price action in the coming weeks. With 2,42 million ETH now under its control — about 2% of the total circulating supply — the company's movements may have a noticeable impact on the market.
It doesn't matter if Bitmine is preparing for the upcoming developments in the ecosystem or simply doubling down on Ethereum's future, one thing is clear: institutional confidence in ETH remains strong.
