BitMine Immersion Technologies said its ether holdings climbed to 5.078 million tokens after it bought another 101,901 ETH over the past week, extending a fast-moving accumulation strategy that has made the Tom Lee-backed company the largest public ether treasury holder in the market.
Bitmine (BMNR) acquired 101,901 ETH last week at the reported price of $2,369 per ETH, which puts last week’s spend at roughly $241.4 million. It’s also their highest weekly buying pace since the week of Dec. 15, 2025, per Lee’s comments in Monday’s release.
The firm said its Ethereum (ETH) stash now equals about 4.21% of Ethereum’s total supply and forms the bulk of $13.3 billion in total crypto and cash holdings.
BitMine said that figure also includes $940 million in cash, 200 bitcoin, and equity stakes it described as “moonshots.” The update marks another sharp step up in a buying run that has accelerated through April.
The Block reported last week that BitMine’s ether staking had already passed 70% of holdings after a separate $320 million push.
Before that, the company disclosed another 101,627 ETH purchase as Lee argued that “crypto winter is much closer to ending.” More recently, the Ethereum Foundation also sold nearly $24 million of ETH directly to BitMine.
The buying sequence has turned BitMine from a crypto mining company into something much closer to a listed ether accumulation vehicle. In the latest release, Lee also called ETH the leading “war-time store of value” since the Iran conflict began, echoing a line he has leaned on in recent weeks.
The company said 3.7 million ETH, worth about $8.8 billion using its stated $2,369 ether price, is now staked. BitMine put annualized staking revenue at roughly $264 million and said the figure could rise to about $363 million if all of its ETH is eventually staked through MAVAN, its in-house validator platform.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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