Bitmine buys 101,627 ETH; Treasury reaches 4.98M

Bitmine Immersion Technologies increased its ether holdings by 101,627 ETH to 4,976,485 ETH, representing about 4.12% of the 120.7 million ETH supply. At roughly $2,301 per ETH, the holdings are valued at about $11.45 billion.

The company said the latest purchases occurred over the past week and follow four consecutive weeks of buying. The prior week marked the firm’s largest pace of acquisitions since the week of Dec. 15, 2025. Bitmine is pursuing a target of holding 5% of the ETH supply and its current position is about 82% of that goal.

Ether traded above $2,300 on Monday and remains about 53% below its August 2025 record high of $4,946.

Bitmine reported 3,334,637 ETH is currently staked, equal to roughly $7.7 billion at current prices, and producing annualized staking revenues of $221 million. The company projects that once its full holdings are staked through the MAVAN validator network and partner validators, annual Ethereum staking revenues could rise to about $330 million based on an assumed 2.88% yield.

The company’s balance sheet also includes $1.12 billion in cash, 199 bitcoin, a $200 million stake in Beast Industries and a $107 million stake in Eightco Holdings. Bitmine shares closed the most recent trading session at $22.95, up 2.27%.

Bitmine’s ether position makes it the largest corporate holder of ETH and the second-largest corporate crypto treasury overall, trailing one company with a reported $58.2 billion bitcoin position.

Chairman Tom Lee described the market as being in the “final stages of the ‘mini-crypto winter'” and said the crypto winter is “much closer to ending.” Lee observed that every major crypto drawdown since 2015 coincided with an equity market decline of at least 20%, while the 2026 equity pullback was about 8%. He added that Ethereum is supported by what he called “dual tailwinds”: growing institutional tokenization on the blockchain and demand from agentic AI systems that require neutral public ledgers.