In the past week, BitMine purchased an additional 138,452 units $ETH . Compared to four weeks ago, the weekly purchase rate was 54,156 units, an increase of 156%.
In other words, this company is not just 'holding a lot of ETH' but is accelerating purchases and actively enhancing its influence over the circulation of ETH.
Personal Opinion:
The increasing concentration of institutional holdings is favorable for the short-term price elasticity of ETH and the 'on-chain positions of institutions' narrative;
but in the medium to long term, it is also accelerating the structure of ETH towards 'top institutions + highly concentrated long-term funds'. Once these whales start to reduce their holdings or re-mortgage for cashing out, the market impact will be more severe than in previous cycles.
From a trading perspective, it is more appropriate to view this as a trend catalyst rather than a single point FOMO signal, and to consider it together with on-chain position distribution, contract leverage, and macro liquidity.
