BitMine Ramps Up Ethereum Purchases as Institutional Buying Slows

Growing Appetite for ETH

BitMine Immersion Technologies has intensified its push into Ethereum even while many crypto treasuries reduce their exposure. The company reportedly bought about 150 million dollars worth of ETH over the past week, adding tens of thousands of coins from major exchanges. This activity follows another buying streak earlier this month when BitMine spent roughly 70 million dollars in just three days. Its treasury now holds about 3.7 million ETH, putting the firm well on its way to securing 5 percent of Ethereum’s circulating supply.

Why BitMine Keeps Buying

Institutional ETH purchases have slowed sharply since late summer. Data shows that large treasury buyers cut their Ethereum spending by more than 80 percent between August and November. BitMine continues to move in the opposite direction. The company believes Ethereum offers long term value and treats its accumulation strategy as a high conviction bet.

Several factors appear to guide this decision:

• BitMine plans to build a U.S. staking operation to earn yield on its growing holdings.
• The firm wants to expand beyond bitcoin mining and diversify its revenue.
• Leadership sees ETH fundamentals as stronger than short term market sentiment.

Market Impact and Outlook

BitMine’s stock has faced pressure and earlier buys resulted in billions in unrealized losses. However, the company remains confident in its approach. Its aggressive buying could influence market dynamics. Large purchases may lift ETH demand and encourage other institutions to view Ethereum as a strategic asset.

Analysts say BitMine’s next moves could become a test for how regulators react to concentrated corporate holdings. For now, the company shows no signs of slowing down. Its strategy signals a belief that Ethereum’s long term potential outweighs current market weakness.