Key Highlights
- Bitmine added 71,252 ETH this past week, bringing its total treasury to 4,803,334 ETH (approx. 3.98% of total supply).
- With 3.33M ETH now staked, the company is generating an estimated $196 million in annualized staking revenue.
- The aggressive growth coincides with Bitmine’s transition from the NYSE American to a full NYSE listing, effective April 9, 2026.
Bitmine Immersion Technologies, the NYSE-listed firm chaired by Fundstrat’s Tom Lee, has ramped up its Ethereum buying spree, snapping up another 71,252 ETH in the latest week.
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The aggressive purchase lifts the company’s total holdings to 4,803,334 ETH — roughly 3.98% of the cryptocurrency’s entire supply. At current prices, the ETH stash alone is valued at about $8.64 billion. Including cash reserves of $864 million and other assets, Bitmine’s combined crypto and cash holdings now stand at $11.4 billion.
Announced in its latest holdings update for April 6, the company also reported 3,334,637 ETH currently staked, generating an estimated $7.1 billion in staked value and providing a steady yield stream through its operations.
The strategic pivot
This latest move continues Bitmine’s self-described “Alchemy of 5%” strategy, which aims to secure up to 5% of total ETH supply and transform the volatile asset into a core treasury engine. The firm has already covered 79% of this goal’s path. Originally rooted in Bitcoin mining, the firm has pivoted hard toward Ethereum under Lee’s guidance, steadily tightening available supply even amid market pressure.
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Bitmine’s treasury approach mirrors Strategy’s Bitcoin playbook, while the firm is primarily focusing on the second-largest crypto and generating yields from it.
With staking infrastructure like the planned MAVAN network in development, Bitmine is positioning itself as a major institutional player in Ethereum’s ecosystem. The company remains one of the few large corporate buyers actively accumulating during the current cycle.
Also read: $285M Gone in 12 Minutes: How a Fake Token and Stolen Keys Gutted Drift Protocol
