Bitmine ramps up Ether buying with $882M accumulation as whale demand spikes

Bitmine Ether accumulation is shaking up the Ethereum market as the public mining giant, alongside a deep-pocketed whale, scooped up $882 million worth of ETH in just days.

Analysts say the sheer scale of this accumulation signals surging institutional demand and could tighten supply, setting the stage for explosive price action in the world’s second-largest cryptocurrency.

Bitmine Ether accumulation is heating up as the public mining giant and a mysterious whale snapped up $882 million in ETH in just days, underscoring surging institutional demand for the world’s second-largest cryptocurrency.

The Bitmine Ether accumulation spree began with BitMine Immersion Technology, a Nasdaq-listed Bitcoin mining firm, which scooped up 106,485 Ether (ETH) worth around $470.5 million in less than 10 hours, according to blockchain data tracked by Lookonchain.

This haul pushes BitMine’s total Ether treasury to 1.29 million ETH, valued at approximately $5.75 billion.

Whale joins the Bitmine ether accumulation wave

The frenzy didn’t stop with BitMine. An unidentified whale quietly purchased 92,899 ETH (about $412 million) over four days, splitting the stash across three fresh wallets before withdrawing from Kraken, a move analysts suggest signals a long-term holding strategy.

“Whales positioning this aggressively alongside Bitmine Ether accumulation points to a seismic shift in how deep-pocketed players view ETH,” said James Butterfill, Head of Research at CoinShares, in a market note.

The timing coincides with heightened institutional involvement via over-the-counter (OTC) desks. Data shows BitMine sourced most of its purchases through major intermediaries including Galaxy Digital, FalconX, and BitGo.

Corporate capital is influx fuels Bitmine ether accumulation

Beyond acquisitions, BitMine Immersion Technology is also strengthening its financial base with a planned $24.5 billion at-the-market (ATM) stock offering.

At the same time, SharpLink secured a $389 million raise from common shares, further highlighting how corporate treasuries are becoming a central driver in Bitmine Ether accumulation.

Crypto analyst Raoul Pal, CEO of Real Vision, told investors:

“Ether is emerging as the institutional-grade collateral of the digital economy. Bitmine’s Ether accumulation only accelerates that narrative.”

Record-breaking whales activity and Bitmine ether accumulation

Bitmine Ether accumulation comes amid a broader whale buying trend. Just this week, a newly identified entity scooped up $1.3 billion worth of Ether across 10 fresh wallets, surpassing the $1 billion record set by ETFs earlier in the week.

Such aggressive whale activity underscores what Glassnode describes as the “second wave of institutional accumulation” for Ethereum, powered by favorable regulations and the rise of stablecoin settlements.

Adding credibility to the bullish narrative, Standard Chartered raised its 2025 Ether price target to $7,500, up from $4,000.

The bank also outlined a trajectory of $12,000 by 2026, $18,000 by 2027, and $25,000 by 2028, citing accelerated adoption and regulatory clarity.

“The trajectory of Bitmine’s Ether accumulation reflects institutional conviction, and our forecasts align with a market that sees ETH as indispensable infrastructure,” noted Geoff Kendrick, Head of Crypto Research at Standard Chartered.

Why Bitmine ether accumulation matters?

Bitmine Ether’s accumulation highlights a turning point in Ethereum’s adoption curve. As more corporates and whales prioritize long-term Ether storage, analysts predict liquidity will tighten and ETH price stability could strengthen.

Internal data from Ethereum.org shows ETH powers over 70% of DeFi and NFT transactions, cementing its role in the broader Web3 economy.

Meanwhile, industry outlets like CoinDesk emphasize that corporate adoption waves often precede multi-year bull cycles.

With Bitmine Ether accumulation and whale activity at record levels, investors are closely watching whether this wave of institutional appetite will ignite the next ETH bull run.

“The scale of Bitmine Ether accumulation is unlike anything we’ve seen since the ETF approvals,” said Michael van de Poppe, crypto strategist at MN Trading. “If this momentum continues, $7,500 may be just the beginning.”

For now, the message is clear: Bitmine Ether accumulation isn’t just a headline—it’s a signpost for where institutional capital is flowing in crypto’s next chapter.