Bitmine Immersion Technologies said it bought 71,524 Ether over the past week, bringing its total holdings to about 4.875 million ETH.
The company said that position represents roughly 4.04% of the total Ether supply, based on about 120.7 million tokens outstanding, and that it remains on a path to acquire up to 5% of global supply. Bitmine’s balance sheet also includes 198 Bitcoin and approximately $719 million in cash.
Bitmine noted the latest purchase was its fastest weekly Ether accumulation since December 2025. Data from CoinGecko shows Bitmine is the largest public Ethereum treasury by a wide margin; SharpLink holds about 868,699 ETH and The Ether Machine holds about 496,712 ETH.
Over the past 30 days, Bitmine was one of the few Ethereum treasury companies to increase holdings. Exodus Movement was the only other company in the dataset to add, purchasing 17 ETH to bring its total to 1,857 ETH.
Chairman Tom Lee said Ether has outperformed traditional assets in recent weeks, pointing to demand tied to tokenization activity on Wall Street and growing use of public blockchains by AI systems. Ether is up about 7% over the past month, limiting its year-to-date decline to roughly 25%, according to CoinGecko.
A sizable portion of Bitmine’s ETH is staked through its in-house MAVAN platform: about 3.33 million ETH are currently staked, with projected annual rewards of roughly $310 million based on recent yields.
The announcement follows Bitmine’s April 9 debut on the New York Stock Exchange after uplisting from NYSE American, a move that typically signals stricter listing standards and broader institutional access.
Strategy buys as most treasury companies hold or sell
Bitmine wasn’t the only public crypto treasury to buy recently. Strategy disclosed another large purchase, acquiring 13,927 Bitcoin for $1 billion between April 6 and April 12 at an average price of $71,902 per coin—below its overall average buy price of $75,577. Strategy now holds 780,897 BTC, purchased for a total of $59.02 billion, with just over 19,000 BTC remaining to reach 800,000.
Thirty-day Bitcoin treasury activity shows a split between accumulation and selling. Strategy led buying by a wide margin, adding 42,166 BTC, while Japan’s Metaplanet increased holdings by 5,075 BTC and smaller additions came from firms like Strive (+430 BTC). Most selling was driven by miners: MARA Holdings sold 15,133 BTC and Riot Platforms reduced holdings by 2,325 BTC.
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