BitMine has significantly increased its Ether holdings, now totaling 3,864,951 ETH, after acquiring 138,452 ETH in a single week. This accumulation represents over 3.2% of the total Ether supply. Despite broader market caution, including notable outflows from Ether ETFs and increased deposits to Binance, BitMine is pursuing a strategy driven by anticipated catalysts such as Ethereum's Fusaka upgrade and plans for staking through its MAVAN initiative in early 2026. The company's aggressive Ether acquisition strategy, initiated in June 2025, has drawn attention from high-profile investors like Bill Miller III and Peter Thiel. While some view BitMine's actions as a strategic positioning ahead of expected market shifts, others see it as a risky concentration of corporate treasury in a volatile asset. BitMine's future moves, including its planned staking operations, will be closely watched as indicators of its long-term strategy.