Bitmine Immersion Technologies, the world’s largest public holder of Ether, boosted its ETH treasury last week with a sizable purchase. The company acquired 101,627 ETH during the week of April 13–19, according to a press release and a Form 8-K filing with the U.S. Securities and Exchange Commission.
Chairman Tom Lee said the purchase was Bitmine’s largest Ether buy since Dec. 15, 2025, and that the firm has “maintained the increased pace of ETH buys in each of the past four weeks,” as its base case views Ether as being in the final stages of a “mini-crypto winter.”
After the acquisition, Bitmine reported holding 4,976,485 ETH, valued at roughly $11.5 billion at a reference price of $2,301 per token. The company’s broader balance sheet includes 199 Bitcoin, a $200 million stake in Beast Industries, a $107 million stake in Eightco Holdings, and $1.12 billion in cash, bringing total crypto and cash holdings to about $12.9 billion.
With nearly 4.98 million ETH, Bitmine now controls over 4% of Ether’s circulating supply and says its long-term target is the “alchemy of 5%,” which it has pursued through repeated large purchases. The buy followed Bitmine’s recent uplisting to the New York Stock Exchange and an expansion of its share buyback program.
Bitmine has also grown its staking operations via MAVAN (Made in America Validator Network). The company reports 3.33 million ETH staked, producing annualized staking revenues in excess of $200 million. At Paris Blockchain Week 2026, Lee characterized the recent downturn as a “mini crypto winter” and projected Ether could exceed $60,000 over the coming years.