Bitmine Invests Heavily to Increase Ethereum Holdings by Over 100,000, Nearing 5% Target Stake

According to BroadChain, at 14:16 on April 21, Bitcoinist reported that Bitmine Immersion Technologies revealed in its latest disclosure that it holds nearly 5 million ETH, with 3.33 million of it being staked through its validator platform, generating over $200 million in annual staking revenue. This revenue stream makes the company, which focuses on accumulating a single digital asset, operate more like a traditional business entity. During the week of April 13 to 19, Bitmine purchased 101,627 ETH, marking its largest weekly acquisition since December 2025. This transaction has been disclosed through a press release and an 8-K form filed with the U.S. Securities and Exchange Commission. Following this acquisition, Bitmine now holds a total of 4,976,485 ETH, valued at approximately $11.5 billion based on a reference price of $2,301 per ETH, accounting for about 4.12% of ETH's circulating supply. The company's publicly stated goal is to hold 5% of the circulating supply, internally referred to as the "5% Alchemy," and it has achieved about 80% of this target at the current pace. Chairman Tom Lee stated that the company has maintained an accelerated purchasing pace for four consecutive weeks and believes ETH is in the final stages of a minor crypto winter. He previously predicted at the 2026 Paris Blockchain Week that ETH could eventually surpass $60,000. In addition to ETH, Bitmine holds 199 BTC, a $200 million investment in Beast Industries, a $107 million investment in Eightco Holdings, and $1.12 billion in cash, bringing its total holdings of crypto assets and cash close to $13 billion. This accelerated purchasing follows a significant corporate move: Bitmine recently transferred its listing from NYSE American to the New York Stock Exchange and expanded its stock buyback program. The NYSE listing has attracted broader institutional investor attention at a time when crypto balance sheet strategies are gaining traction in public markets. According to CoinGecko data tracking corporate Ethereum treasuries, no other publicly traded company comes close to Bitmine in terms of total ETH exposure, and the gap between it and the second-largest holder continues to widen with each successive purchase.