Bitmine accelerates Ethereum accumulation, nears 5% supply threshold
In a significant treasury expansion, Bitmine Immersion Technologies acquired 71,524 ETH tokens, bringing total reserves to 4.87 million—approximately 4% of circulating supply—as part of its aggressive cryptocurrency holdings strategy
In an announcement released Monday, Bitmine Immersion Technologies revealed that it had acquired an additional 71,524 Ether throughout the previous week, elevating the company's cumulative position to approximately 4.87 million tokens.
According to the firm's disclosure, this accumulation accounts for approximately 4.04% of Ether's (ETH) total circulating supply, calculated against the current outstanding supply of roughly 120.7 million tokens, as the company works toward its stated objective of securing up to 5% of worldwide supply. The company's balance sheet currently maintains 198 Bitcoin (BTC) alongside approximately $719 million in liquid cash reserves.
The company characterized this recent acquisition as representing the most rapid weekly Ether accumulation rate it has achieved since December 2025.
Based on information compiled by CoinGecko, Bitmine maintains the position of largest Ethereum treasury company by a substantial margin, far outpacing SharpLink's holdings of approximately 868,699 ETH and The Ether Machine's position of 496,712 ETH.
The firm also stands among a select group of Ethereum treasury companies that have expanded their positions throughout the preceding 30 days. Within the available dataset, Exodus Movement represented the sole other entity to pursue accumulation, incorporating 17 ETH to elevate its total position to 1,857 ETH.
In commentary on the purchase, Chairman Tom Lee indicated that Ether has delivered superior performance relative to conventional assets during recent weeks, attributing this momentum to demand stemming from tokenization initiatives on Wall Street and the increasing adoption of public blockchain infrastructure by artificial intelligence systems.
Over the past month, Ether has experienced gains of approximately 7%, which has narrowed its year-to-date losses to roughly 25%, per data compiled by CoinGecko.
The company deploys a significant portion of its Ether reserves through staking via MAVAN, its proprietary platform, with approximately 3.33 million ETH presently staked, generating projected annual rewards estimated at roughly $310 million when calculated at current yield rates.
This disclosure arrives on the heels of Bitmine's April 9 transition to the New York Stock Exchange following its uplisting from NYSE American, a transition that generally indicates more rigorous listing requirements and enhanced accessibility to institutional investment capital.
Strategic accumulation continues while majority of treasury firms maintain or liquidate positions
Bitmine was not alone among cryptocurrency treasury companies executing purchases during this period, as Strategy likewise announced on Monday another substantial acquisition, advancing its Bitcoin total holdings nearer to the 800,000 BTC milestone.
The company, recognized as the world's largest publicly-traded BTC holder, revealed that it had purchased 13,927 Bitcoin for a total consideration of $1 billion during the period spanning April 6 through April 12, achieving an average acquisition price of $71,902 per coin, which falls below its cumulative average purchase price of $75,577. The firm's current position stands at 780,897 BTC, acquired through aggregate expenditures totaling $59.02 billion, leaving slightly more than 19,000 BTC required to achieve the 800,000 threshold.
Examining Bitcoin treasury activity throughout the past 30 days reveals a clear divergence between accumulation strategies and disposition activity. Strategy dominated the purchasing activity by a considerable margin, incorporating 42,166 BTC, while Japan-based Metaplanet expanded its reserves by 5,075 BTC. More modest acquisitions were executed by firms such as Strive, which incorporated 430 BTC into its holdings.
Conversely, Bitcoin mining operations accounted for the majority of disposition activity, with MARA Holdings liquidating 15,133 BTC from its reserves, while Riot Platforms decreased its position by 2,325 BTC.