Bitmine Immersion Pushes Ether Holdings Near 5M ETH
Bitmine Immersion Technologies, the largest public holder of Ether, added to its ETH treasury last week with another large purchase.
The company earned 101,627 ETH during the week of April 13 to April 19, according to a press release and accompanying Form 8-K filing with the US Securities and Exchange Commission on Monday.
According to Chairman Tom Lee, the purchase marks Bitmine's largest purchase of Ether since December 15, 2025. “Bitcoin has maintained the pace of ETH purchases in each of the past four weeks as our base case ETH is in the final stages of a ‘mini-crypto winter,'” Lee said.
Following the purchase, Bitmin said it held 4,976,485 ETH worth of $11.5 billion at a reference price of $2,301 per token. The company has 199 Bitcoin (BTC), $200 million in Beast Industries, $107 million 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's treasuries as crypto balance sheet strategies continue to expand on public markets.
Bitumen is 82% of the way to “5% Alchemy”.
Holding 4.98 million ETH, Bitmine now owns over 4% of the total circulating supply of Ether. The company said that its broader objective is to reach the “alchemy of 5%”, which is the long-term target of making frequent large acquisitions.
The acquisition comes as the company expands its share buyback program after Bitmin recently delisted from the NYSE American on the New York Stock Exchange.
Bitmin has expanded its share operation through the MAVAN (Made in America Validator Network) platform. The system is designed to support institutional-level Ethereum staking with an emphasis on performance and security.
The company said it currently holds 3.33 million ETH per share, with annual earnings per share of more than $200 million.
Related: Ether treasuries need liquid edge to beat ETFs, says Lido exec
At Paris Blockchain Week 2026, Li said the recent crypto slump was a “little crypto winter” and predicted that Ether could climb above $60,000 in the next few years.
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