Bitmine Immersion Technologies added 101,627 Ethereum last week in what the company described as its largest purchase of 2026, lifting its total holdings to nearly 5 million ETH. The latest acquisition pushed the firm closer to its stated goal of controlling 5% of Ethereum’s total supply. Based on the figures released by the company, Bitmine has now reached about 82% of that target. The update places Bitmine among the largest corporate holders of ether and keeps the company at the center of current Ethereum treasury activity. The firm said its ether holdings are worth about $11.5 billion at current market prices. Bitmine also said total assets across crypto, cash, and equity positions now stand at $12.9 billion, reflecting the scale of its balance sheet expansion. Chairman Tom Lee linked the company’s recent pace of buying to improving market conditions. He said recent trends suggest the latest crypto downturn may be nearing an end. Lee also pointed to ether’s rebound from February lows and to stronger relative performance against equities during the recent period of geopolitical tension. Bitmine Accelerates Treasury Growth with New ETH Buy The company said the 101,627 ETH purchase was its biggest weekly addition since Dec. 15. At current market levels cited in the update, the latest buy was worth more than $230 million. That lifted Bitmine’s treasury to about 4.97 million ETH, keeping the firm well ahead of most listed companies focused on ether accumulation. Bitmine said it could reach its 5% supply target by mid-summer 2026 if the current pace continues. The company also noted that price movements and liquidity conditions could still affect that timeline. The update showed that Bitmine remains one of the few large digital asset treasury firms still buying aggressively during recent market volatility. Lee said ether has risen 41% from its early February lows. He also said ETH has outperformed the S&P 500 by 2,280 basis points since the Iran conflict began. According to Lee, demand tied to tokenization and AI-linked blockchain use has supported ether’s position during this period. Staking Activity Lifts Revenue as Yield Tops Network Rate Bitmine’s update also showed a growing focus on staking. The company said it has staked more than 3.3 million ETH through its MAVAN validator network and partner platforms. That equals about 67% of total ether holdings, making staking a major part of Bitmine’s treasury strategy. The firm reported a 7-day annualized staking yield of 2.88%, above the 2.76% Composite Ethereum Staking Rate. Based on that level, Bitmine estimated about $221 million in annualized staking revenue. It also said annualized revenue could reach about $330 million once the full ETH treasury is deployed into staking. These figures show that Bitmine is using its ether balance not only as a reserve asset but also as a revenue-generating base. The company’s latest update suggests that staking returns remain a central part of how it manages treasury growth while building a larger position in Ethereum. Balance Sheet Details Show Broader Treasury Structure Alongside its ether holdings, Bitmine reported smaller positions in other assets. The company said it holds 199 Bitcoin and about $1.1 billion in cash reserves. It also disclosed a $200 million stake in Beast Industries and a $107 million position in Eightco Holdings, which it described 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.
