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Bitmine Immersion Technologies said it added 101,627 Ethereum last week, describing the purchase as its largest of 2026. The acquisition lifted the company’s total holdings to nearly 5 million ETH and brought it to about 82% of its stated goal of controlling 5% of Ethereum’s total supply.
The latest update places Bitmine among the largest corporate holders of ether and highlights its role in ongoing Ethereum treasury activity. The company said its ether holdings are worth about $11.5 billion at current market prices. It also reported total assets across crypto, cash, and equity positions of $12.9 billion, reflecting the scale of its balance sheet expansion.
Chairman Tom Lee attributed Bitmine’s buying pace to improving market conditions. He said recent trends suggest the latest crypto downturn may be nearing an end, pointing to ether’s rebound from February lows and to stronger relative performance versus equities during a period of geopolitical tension.
Bitmine said the 101,627 ETH purchase was its biggest weekly addition since Dec. 15. Based on the market levels cited in the update, the buy was worth more than $230 million. The transaction increased Bitmine’s treasury to about 4.97 million ETH.
The company said it could reach its 5% supply target by mid-summer 2026 if the current pace continues, while noting that price movements and liquidity conditions could affect the timeline. Lee said ether has risen 41% from its early February lows and that ETH has outperformed the S&P 500 by 2,280 basis points since the Iran conflict began. He also cited demand tied to tokenization and AI-linked blockchain use.
Bitmine’s update also showed a growing emphasis on staking. The company said it has staked more than 3.3 million ETH through its MAVAN validator network and partner platforms, representing about 67% of its total ether holdings.
Bitmine reported a 7-day annualized staking yield of 2.88%, above the 2.76% Composite Ethereum Staking Rate. At that yield, the company estimated about $221 million in annualized staking revenue, and said annualized revenue could reach about $330 million once the full ETH treasury is deployed into staking.
Beyond ether, Bitmine reported smaller positions in other assets. It said it holds 199 Bitcoin and about $1.1 billion in cash reserves. The company also disclosed a $200 million stake in Beast Industries and a $107 million position in Eightco Holdings, describing these as part of its broader treasury diversification.
Bitmine said it ranks second globally among crypto treasury firms behind Strategy and first among corporate ether holders. The company also noted that it uplisted its stock to the New York Stock Exchange on April 9. Over the past five days, shares averaged about $1.2 billion in daily trading volume, placing the stock among the more actively traded U.S.-listed names.
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