Bitmine Aggressively Expands Ether Treasury Toward 5% Supply Target

Bitmine Immersion Technologies announced the acquisition of 71,524 Ether over the past week, accelerating its push toward a target of owning 5% of the global ETH supply. This latest purchase brings the company's total holdings to 4.87 million tokens, marking its fastest weekly pace of accumulation since December 2025. The firm now stands as the largest Ethereum treasury company by a wide margin, significantly outpacing other holders such as SharpLink and The Ether Machine. Chairman Tom Lee attributed Ether's recent relative strength to increased demand from Wall Street tokenization activity and the growing integration of public blockchains within AI systems. Beyond its ETH position, Bitmine maintains a balance sheet featuring 198 Bitcoin and $719 million in cash. A substantial portion of its Ether—approximately 3.33 million tokens—is currently staked through its internal MAVAN platform, which is projected to yield roughly $310 million in annual rewards based on recent yields. The announcement follows Bitmine's recent uplisting to the New York Stock Exchange on April 9, a move designed to meet stricter listing standards and attract broader institutional capital. This trend of corporate accumulation is mirrored in the Bitcoin market, where Strategy recently added 13,927 BTC, though a divergence remains as major miners like MARA Holdings and Riot Platforms continue to reduce their holdings.