Bitmine Doubles Down on Ethereum: Fresh Purchases Signal Bullish Bet on ETH’s Future
Bitmine just loaded up on more Ethereum—doubling down on its conviction as the network's roadmap unfolds.
The Big Bet Behind the Buy
This isn't casual accumulation. It's a strategic move. The fresh purchases point to a calculated belief in Ethereum's long-term value proposition, even as the broader market chases the next shiny object.
Why Ethereum, Why Now?
The timing isn't random. With key protocol upgrades on the horizon and institutional frameworks slowly taking shape, Bitmine's move looks less like speculation and more like positioning. They're betting the house that Ethereum's fundamentals will eventually trump short-term noise.
The Cynical Take
Let's be real—in crypto, a 'strategic accumulation' is often just a fancy term for 'buying the dip' and hoping the narrative sticks. For every visionary bet, there's a hedge fund across the street doing the exact same thing and calling it proprietary alpha.
One thing's clear: when major players double down, it sends a signal. Whether that signal is genius or just well-funded confidence remains to be seen. The market, as always, will have the final say.
Trend Research and BitMine buy more Ethereum as the crypto market dips
Trend Research has bought 9,939 $ETH worth $30.85M from #Binance and supplied it into #Aave V3 and borrowed $20M $USDT to buy more $ETH.
They now hold 636,815 $ETH, valued at $1.98Bhttps://t.co/xvp499tawt pic.twitter.com/AM8HL1CiW0
— Onchain Lens (@OnchainLens) January 20, 2026
Trend Research transferred the newly bought 9,939 ETH to AAVE and then borrowed an additional $20 million in USDT to buy more ETH. The firm now has 636,815 ETH in its books, valued at $1.98 billion at current ETH prices.
Trend’s founder, Jack Yi, said last year that he was optimistic about crypto’s performance in the first half of 2026 and pledged to continue purchasing ethereum until the bull market arrives.
On December 12, Trend Research wrote on X that it was staying bullish on ETH after the 1011 market crash and “remain optimistic about the future” due to the increased integration of crypto assets into traditional finance.
Bitmine Immersions Technologies also announced it bought more Ethereum. A press release dated January 20 detailed that the crypto company had bought an additional 35,268 ETH in the last week. According to Thomas Lee, Chairman of Bitmine, Ethereum’s price ratio to Bitcoin has been rising since mid-October, indicating that investors have recognized tokenization and other use cases being developed by Wall Street on the Ethereum network.
Lee also emphasized that BitMine “has staked more ETH than other entities in the world” and added that the company’s “ETH staking fee is $374 million annually,” exceeding $1 million per day.
A recent Cryptopolitan report dated January 20 highlighted that BitMine recently staked about 86,848 ETH, bringing its total staked ETH to 1.77 million ETH worth roughly $5.66 billion. The publication also noted that Ethereum supply on exchanges has declined and reported that the growing institutional demand for Ethereum from ETFs and public companies such as BitMine is the root cause of the supply squeeze.
According to Coingecko, a crypto data platform, BitMine Immersions leads all publicly listed companies in Ethereum holdings. The company has 4,203,036 ETH valued at $12.73 billion at current prices, and its ETH holdings represent 3.48% of Ethereum’s total supply.
The data also shows that BitMine has added 235,826 ETH to its books in the last 30 days. According to data from bitcoin Treasuries, BitMine holds 192 Bitcoins, valued at $17.39 million, and ranks 86th among the world’s largest corporate Bitcoin holders.
Spot Ethereum ETFs buy $584M worth of ETH as ETH prices dip
U.S.-listed spot Ethereum exchange-traded funds have also added more Ethereum. The funds have accumulated $479.04 million in ETH in the last five days, according to data from the ETF tracking website SosoValue.
The data also shows that the ETFs received $584.91 million in inflows in January alone, with the month’s highest inflow of $175 million recorded on January 14. The funds hold $20.43 billion in Ethereum, representing about 5.14% of the crypto asset’s market capitalization.
Despite institutions’ massive buying activity, Ethereum has declined by 6.05% over the last 24 hours, bringing its seven-day decline to 4.46%.
Data from CoinGecko shows that the crypto asset is currently trading at $3,019 and is up 2.13% year-to-date at the time of this publication.
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