Bitmine Immersion Technologies, the largest publicly traded holder of Ether, increased its ETH treasury last week with a sizable acquisition. According to a press release and an SEC Form 8-K, the company bought 101,627 ETH during the week of April 13–19.
Chairman Tom Lee said the purchase was Bitmine’s biggest Ether buy since December 15, 2025, and that the firm has stepped up purchases in each of the past four weeks as it views Ether to be in the late stages of a mini crypto winter.
Following the transaction, Bitmine reported a holding of 4,976,485 ETH, valued at roughly $11.5 billion using a reference price of $2,301 per token. The company’s wider 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, putting total crypto and cash assets near $12.9 billion.
With nearly 4.98 million ETH, Bitmine now controls more than 4% of Ether’s circulating supply and says its long-term target is the so-called alchemy of 5%, a goal pursued through repeated large purchases. The latest buy came after the company’s uplisting to the New York Stock Exchange and an expansion of its share buyback program.
Bitmine has also expanded staking via MAVAN (Made in America Validator Network), reporting 3.33 million ETH staked and annualized staking revenues exceeding $200 million. At Paris Blockchain Week 2026, Lee described the market downturn as a mini crypto winter and suggested Ether could top $60,000 in the coming years.