Bitmine Immersion Technologies, the world’s largest public holder of Ether, expanded its ETH treasury last week with another immense purchase.
During the week of April 13-19, the company acquired 101,627 ETH, According to to the press release and accompanying Form 8-K filing with the U.S. Securities and Exchange Commission on Monday.
According to CEO Tom Lee, this purchase is the largest purchase of Ether by Bitmine since December 15, 2025. “Bitmine has maintained an increased pace of ETH purchases in each of the last four weeks as our base case ETH is in the final phase of its ‘mini-crypto winter,’” Lee said.
Following the purchase, Bitmine said it held 4,976,485 ETH worth approximately $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 cryptocurrency and cash holdings are $12.9 billion.
The latest update extends Bitmine’s lead among public Ether vaults as crypto balance strategies continue to spread across public markets.
Bitmine is 82% of the way to “alchemy 5%”
With 4.98 million ETH, Bitmine currently holds over 4% of the total Ether supply in circulation. The company said its broader goal remains to achieve “5% alchemy”, a long-term goal it pursues through large-scale repeat purchases.
The purchase comes after Bitmine recently began trading on the Fresh York Stock Exchange following a promotion from NYSE American due to the expansion of Bitmine’s stock repurchase program.
Bitmine has also expanded its staking activities through its MAVAN (Made in America Validator Network) platform. The system is designed to support institutional-level Ethereum staking, with a focus on performance and security.
The company reported that 3.33 million ETH is currently staked, generating annual staking revenue of over $200 million.
Related: Ether treasuries need a liquid edge to beat ETFs, says Lido executive
During Paris Blockchain Week 2026, Lee stated that the recent cryptocurrency crisis was a “mini crypto winter” and predicted that Ether could exceed $60,000 in the next few years.
