BitMine Buys $105M ETH to Start 2026, Holds $915M Cash

BitMine Immersion Technologies, the largest known corporate holder of Ether, acquired $105 million worth of ETH in its first purchase of the new year, according to Arkham data. This move signals continued confidence in Ethereum despite Chairman Tom Lee's prediction of a potential near-term drawdown to around $1,800 in the first half of 2026, which he views as an attractive buying opportunity. BitMine currently holds 4.07 million ETH, representing 3.36% of the total supply, and retains $915 million in cash reserves as it pursues its goal of accumulating 5% of the ETH supply. The company has also significantly increased its staking activity, locking up over $2.87 billion in Ether. Separately, large investors (whales) have been increasing their spot ETH exposure, while some analysts suggest the 2025 bear market served as a necessary risk repricing for institutional adoption, paving the way for crypto to function as backend global finance infrastructure in 2026.

(Source：Cointelegraph)