Last week, Bitmine Immersion Technologies increased its Ethereum holdings by 101,627 ETH, calling it the largest transaction of its 2026 strategy, bringing its total Ethereum holdings close to 5 million. This acquisition brings the company closer to its stated goal of controlling 5% of Ethereum’s total supply. According to data disclosed by the company, Bitmine has now achieved approximately 82% of this target.
This update positions Bitmine among the largest corporate holders of Ethereum and keeps it at the heart of Ethereum’s current financial operations. The company stated that its Ethereum holdings are worth approximately $11.5 billion at current market prices. Bitmine also noted that its total assets, including cryptocurrencies, cash, and equity, have now reached $12.9 billion, reflecting the scale of its balance sheet expansion.
Chairman Tom Lee linked the company’s recent acquisition pace to improving market conditions. He stated that recent trends suggest the latest downturn in cryptocurrencies may be nearing an end. Lee also noted that Ethereum has rebounded from its February low and has performed more strongly relative to stocks during recent geopolitical tensions.
Bitmine accelerated the growth of its funds through a new round of ETH purchases.
The company said that this purchase of 101,627 ETH is the largest weekly increase since December 15. Based on the current market price mentioned in the update, this latest purchase is worth over $230 million. This brings Bitmine’s ETH reserves to approximately 4.97 million, putting it far ahead of other publicly traded companies focused on Ethereum accumulation.
Bitmine stated that it can reach if current growth rates continue, the company plans to achieve its 5% supply target by mid-summer 2026. The company also noted that price volatility and liquidity conditions may still impact this timeline. This update shows that, amid recent market fluctuations, Bitmine remains one of the few large digital asset management firms still actively buying.
Li stated that Ethereum's price has risen 41% from its low in early February. He also noted that since the outbreak of the Iran conflict, Ethereum has outperformed the S&P 500 by 2280 basis points. Li believes that demand driven by blockchain applications related to tokenization and artificial intelligence has supported Ethereum's price movement during this period.
Staking boosts your earnings with yields exceeding the network rate.
Bitmine’s latest updates also show that the company is placing increasing emphasis on staking. Bitmine states that it has staked over 3.3 million ETH through its MAVAN validation node network and partner platforms, accounting for approximately 67% of its total ETH holdings, making staking a key component of Bitmine’s capital management strategy.
The company reported a 7-day annualized staking yield of 2.88%, higher than Ethereum’s composite staking rate of 2.76%. Based on this, Bitmine estimates its annualized staking income at approximately $221 million. The company also stated that once all ETH reserves are staked, annualized income could reach approximately $330 million.
These figures indicate that Bitmine not only uses its Ethereum balance as a reserve asset but also as a revenue-generating source. The company’s latest announcement reveals that staking rewards remain key to growing its managed funds while simultaneously increasing its Ethereum holdings.
The balance sheet details show a broader financial structure.
In addition to its Ethereum holdings, Bitminereportedly maintains smaller positions in other assets. The company states that it holds 199 bitcoins and approximately $1.1 billion in cash reserves. Additionally, it disclosed ownership stakes worth $200 million in Beast Industries and $107 million in Eightco Holdings, describing these as part of its broader financial diversification strategy.
Bitmine claims to be ranked second globally. The company behind the crypto treasury strategy is also a leading holder of enterprise Ethereum.
The company also noted that its stock began trading on the New York Stock Exchange on April 9. Over the past five days, the stock has averaged approximately $1.2 billion in daily trading volume, making it one of the most actively traded listed stocks in the United States.