What happened?
BitMine bought an additional 82,300 ETH over the past week. It now holds about 3.395 million ETH, worth roughly $13.25 billion, and reports total crypto and cash assets near $13.7 billion. That puts the company at about 2.8% of Ethereum’s circulating supply and more than halfway to its 5% ownership goal.
Who does this affect?
BitMine shareholders and traders in its American-listed stock are directly affected as the company’s growing crypto treasury boosts market attention and trading volume. Ethereum holders and crypto traders face tighter available supply and potential price sensitivity because a large corporate holder is accumulating. Institutional investors, exchanges, and market makers are also impacted since shifts in big corporate treasuries change liquidity and trading dynamics.
Why does this matter?
Large corporate accumulation removes ETH from the open market and can reduce sell-side liquidity, which may support higher prices if demand holds. BitMine’s purchases also signal institutional confidence that could attract more capital into Ethereum and related equities, lifting overall market sentiment. At the same time, concentration of supply in a few big holders raises the risk of sharper volatility if they reverse course, so traders should monitor flows closely.