Gate News message, April 27 — BitMine Immersion Technologies announced its Ethereum holdings surged to 5.078 million tokens after acquiring 101,901 ETH over the past week, marking the company’s largest weekly purchase since mid-December 2025 and solidifying its position as the largest public ether treasury holder globally.
The company purchased the ETH at $2,369 per token, bringing last week’s total spending to approximately $241.4 million. This accelerated buying pace reflects BitMine’s rapid accumulation strategy throughout April, with the firm having already disclosed multiple major purchases in recent weeks, including a separate 101,627 ETH acquisition.
BitMine’s Ethereum holdings now represent 4.21% of Ethereum’s total supply. The company’s total crypto and cash holdings reached $13.3 billion, which also includes $940 million in cash, 200 Bitcoin, and equity stakes described as “moonshots.”
3.7 million ETH from the treasury—valued at approximately $8.8 billion—is currently staked. BitMine reported annualized staking revenue of roughly $264 million, with potential to reach $363 million if all ETH is eventually staked through MAVAN, its in-house validator platform.
The acquisition sequence has transformed BitMine from a crypto mining company into a listed Ethereum accumulation vehicle. The Ethereum Foundation also recently sold nearly $24 million of ETH directly to BitMine. Founder Tom Lee has characterized ETH as a leading “war-time store of value” amid ongoing geopolitical tensions.
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