The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move that significantly consolidates institutional control over digital assets, BitMine has disclosed details of a massive acquisition that elevates its holdings to a historic level. According to reports, the firm purchased $238 million worth of Ether at an average price near $2,200 during a recent market dip. Following this transaction, BitMine now controls 4.47% of the total circulating Ethereum supply, positioning it as one of the network's most influential institutional stakeholders.
Sign in to access this content
Sign InThis high concentration of ownership marks a strategic shift compared to peers, as BitMine pursues an aggressive accumulation strategy that dwarfs recent moves by firms like Japan's Metaplanet (per market data). Much like MicroStrategy's dominance in Bitcoin, owning nearly 4.5% of the ETH supply grants BitMine substantial influence over market liquidity, especially as Eurozone inflation held at 2.2% (as of May 20, 2026), driving corporate treasuries toward high-upside digital reserves.
Traders should closely watch price action around the $2,200 level, which represents the firm's average entry point, with ETH trading near this zone (at close May 20, 2026). Looking ahead, the market remains focused on the release of the FOMC Minutes later today, a critical catalyst that will likely dictate US Dollar strength and subsequent risk appetite for major crypto assets.