BitMine Starts 2026 With $105M Ether Purchase, Retains $915M Cash Pile
BitMine Immersion Technologies, known for holding the most Ether of any company, begined the new year by purchaseing more cryptocurrency.
On Wednesday, they bought a huge $105 million worth of Ether. Arkham, a blockchain data platform, the deal in an X post, showing that the company is still quite confident in ETH’s future, even though analysts expect the price to decline in the near term.
This most recent purchase brings BitMine’s treasury to 4.07 million Ether, which is worth $12.6 billion and makes up 3.36% of the total ETH supply, according to from StrategicEthReserve. According to its most recent Monday report, the business still has a strong $915 million in cash reserves, which gives it plenty of liquidity to purchase more ETH as it moves towards its goal of controlling 5% of the supply.
This financial firepower shows that is building its ETH position in a turbulent market in a disciplined but aggressive way. In addition to these purchases, the company has greatly increased its staking activities.
Blockchain tracker Lookonchain that over $2.87 billion in staked Ether has been added in the last few days, with almost 128,000 tokens added. These kinds of moves not only make money, but they also show that you are committed to ETH’s ecosystem for the long term.
Leadership Shows Hope in the Face of Expected Volatility
Tom Lee, the chairman of BitMine and co-founder of Fundstrat Global Advisors, supports this plan because he believes current market conditions are favorable for accumulation.
Lee predicted a “meaningful drawdown” for to around $1,800 during the first half of 2026, in an internal note shared on social media. He called this level “attractive opportunities into year-end.” His view is a mix of short-term prudence and deep belief in ETH’s long-term value, which fits perfectly with BitMine’s plans to grow its treasury.
Xue Cointelegraph, “The repricing wasn’t just about valuations; it was also about repricing risk.” The industry has accepted infrastructure that is compliant and can be verified in real time, making it easier for institutions to do business. He went on to say, “2026 may not be a retail frenzy, but we should view liquidity move around, and crypto will finally work as the backend for .”
Jamie Coutts, the head crypto analyst at Real Vision, agreed with this view and said the poor performance of altcoins in 2025 was a necessary “repricing” in line with core protocol fundamentals, network expansion, and the begin of multi-year institutional inflows.
When you put all this information together, it shows that the market is maturing and that corporate treasuries like BitMine’s are crucial to keeping stable and moving it forward.
