BitMine Immersion Technologies has continued its aggressive Ethereum accumulation strategy by purchasing 20,000 ETH valued at $39.8 million. The acquisition was done through BitGo and comes shortly after the company disclosed a larger purchase made earlier in the week.
The additional holdings bring BitMine closer to its long-term objective of controlling 5% of Ethereum’s total circulating supply. It has already reached around 72% of that goal, according to company disclosures. Even though market prices are still volatile, this accumulation policy shows that institutions are becoming more confident in Ethereum’s proof-of-stake environment.
At the same time, Ethereum staking has achieved a significant breakthrough. Blockchain analytics firm Santiment reported that 50.18% of all ETH issued till now is locked in the network’s proof-of-stake contract. Staked ETH acts as collateral securing network validation and is temporarily removed from liquid circulation, influencing market supply dynamics.
Everstake noted that staking participation tends to increase during periods of reduced trading activity, as investors seek yield-generating strategies rather than speculative positioning. The expansion of staking may also dampen volatility by curbing availability of tokens for active trading.
Both long and short traders were aggressively positioned in balanced liquidity clusters, according to market watchers. If one party is compelled to liquidate, this structure may intensify price fluctuations. In the meantime, capital rotation within cryptocurrency markets is evident as 30-day realised cap flows have become negative.
Ethereum spot ETFs attracted net inflows of $48.63 million during the most recent reporting period. This shows that institutions are still interested in this avenue for investing.
BitMine’s accumulation strategy and the staking milestone together illustrate how institutional treasury strategies and network-level participation are intertwined.
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