Bitmine Immersion Technologies (NYSE: BMNR), a publicly traded Bitcoin miner and Ethereum accumulation company, has announced a massive $156.35 million purchase of Ethereum (ETH) last week, bringing its total ETH holdings to 4,874,858 tokens valued at approximately $10.75 billion. This represents 4.04% of Ethereum's total circulating supply of 120.7 million coins. The company is now 81% of the way toward its stated goal of owning 5% of all ETH, a strategy it calls "the alchemy of 5%".
The purchase of 71,524 ETH, executed at an average price of around $2,186, marks Bitmine's largest weekly acquisition since December 22, 2025. The company's total crypto and cash holdings, including "moonshot" investments, now stand at $11.8 billion. This portfolio comprises the 4.875 million ETH, $719 million in cash, 198 Bitcoin (BTC), a $200 million stake in Beast Industries, and an $85 million stake in Eightco Holdings (NASDAQ: ORBS), which provides exposure to OpenAI.
Bitmine has also staked a significant portion of its ETH holdings. As of April 13, 2026, the company has 3,334,637 ETH staked, worth $7.4 billion at $2,206 per ETH. This represents about 68% of its total ETH treasury. The staking operation, conducted through its newly launched MAVAN (Made in America Validator Network) platform, is generating an annualized staking revenue of $212 million, with a 7-day yield of 2.89%.
Thomas "Tom" Lee, Chairman of Bitmine, commented on the strategic moves, stating, "ETH is now the best performing asset since the start of the [Iran] war, with a 17.4% gain... we believe ETH beating gold by 2,743 basis points demonstrates ETH is the wartime store of value." He added that Ethereum benefits from "the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains."
The company recently uplisted from the NYSE American to the New York Stock Exchange on April 9, 2026. Bitmine stock (BMNR) is highly liquid, ranking as the 117th most traded stock in the US with an average daily trading volume of $747 million. The company is backed by prominent institutional investors including ARK Invest's Cathie Wood, Founders Fund, Pantera Capital, Kraken, DCG, Galaxy Digital, and Bill Miller III.
Bitmine's ETH treasury is now the largest in the world. In the broader context of global crypto treasuries, it ranks #2 behind Strategy Inc. (NASDAQ: MSTR), which holds 766,970 Bitcoin valued at $54.5 billion.
