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Bitmine Immersion Technologies, the world’s largest public holder of Ether, increased its ETH treasury last week with another large purchase.
The company acquired 101,627 ETH during the week of April 13 to April 19, according to a press release and an accompanying Form 8-K filing with the US Securities and Exchange Commission on Monday.
The purchase marks Bitmine’s largest Ether buy since Dec. 15, 2025, according to chairman Tom Lee. “Bitmine has maintained the increased pace of ETH buys in each of the past four weeks, as our base case ETH is in the final stages of the ‘mini-crypto winter,’” Lee said.
Following the purchase, Bitmine said it held 4,976,485 ETH valued at roughly $11.5 billion at a reference price of $2,301 per token. The company also holds 199 Bitcoin (BTC), a $200 million stake in Beast Industries, a $107 million stake in Eightco Holdings and $1.12 billion in cash. The company’s total crypto and cash holdings are $12.9 billion.
The latest update extends Bitmine’s lead among public company Ether treasuries as crypto balance sheet strategies continue to spread across public markets.
Bitmine is 82% of the way to the “alchemy of 5%”
In holding 4.98 million ETH, Bitmine now owns more than 4% of total Ether circulating supply. The company said its broader goal remains to reach the “alchemy of 5%,” a long-term target it has been working toward through repeated large-scale purchases.
The purchase came after Bitmine recently started trading on the New York Stock Exchange after uplisting from the NYSE American as the company expanded its share buyback program.
Bitmine has also expanded its staking operations through its MAVAN (Made in America Validator Network) platform. The system is designed to support institutional-grade Ethereum staking with an emphasis on performance and security.
The company reported that 3.33 million ETH is currently staked, generating annualized staking revenues of over $200 million.
Related: Ether treasuries need liquid staking edge to beat ETFs, says Lido exec
At Paris Blockchain Week 2026, Lee said the recent crypto slump was a “mini crypto winter,” and predicted that Ether could climb above $60,000 over the next few years.
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