crypto-economy.com
- Bitmine acquired approximately 101,901 $ETH last week at $2,369 per unit, its largest weekly purchase since December 2025.
- The company’s total holdings reached 5.078 million $ETH, equivalent to 4.21% of Ethereum’s total supply.
- The firm’s complete portfolio amounts to $13.3 billion in crypto assets and cash, with 3.7 million $ETH already staked.
Bitmine Immersion Technologies acquired 101,901 $ETH during the past week at a reported price of $2,369 per token, representing an approximate outlay of $241.4 million. The transaction brought its total holdings to 5.078 million $ETH. This marks the company’s highest weekly purchase pace since the week of December 15, 2025, according to statements by Tom Lee.
The firm, backed by well-known market strategist Tom Lee, has completely transformed its profile in recent months: from a cryptocurrency mining company to a listed Ethereum accumulation vehicle. Its current holdings represent 4.21% of Ethereum’s total supply and form the core of a portfolio totaling $13.3 billion, which also includes $940 million in cash, 200 bitcoins and equity stakes the company describes as “moonshots“.
Bitmine: $ETH as a Reserve Asset in Times of War
The acceleration of purchases intensified throughout April. Last week, Bitmine’s $ETH staking already exceeded 70% of its holdings following a separate $320 million transaction. Prior to that, the company had disclosed the acquisition of another 101,627 $ETH, and Lee declared that “the crypto winter is much closer to being over.” In recent weeks, the Ethereum Foundation also sold directly approximately $24 million in $ETH to Bitmine.
Staking as a Revenue Engine
Currently, approximately 3.7 million $ETH held by the firm, valued at roughly $8.8 billion, are being staked. The company estimated its annualized staking revenues will be close to $264 million and projected that figure could scale to $363 million if all of its holdings are incorporated into MAVAN, its own validation platform. In a recent statement, Lee described $ETH as the leading “reserve asset in times of war” since the onset of the conflict with Iran, a thesis he has repeated across his public appearances in recent weeks.