Bitmine Immersion Technologies, a leading public holder of Ether, expanded its ETH treasury last week with a significant acquisition. The company purchased 101,627 ETH between April 13 and April 19. This marks Bitmine's largest Ether purchase since December 15, 2025. Chairman Tom Lee stated the company is maintaining its accelerated pace of ETH buys, suggesting the current "mini-crypto winter" is nearing its end.
Following this transaction, Bitmine's ETH holdings total 4,976,485, valued at approximately $11.5 billion based on a $2,301 per token reference price. The company's total crypto and cash holdings amount to $12.9 billion, including Bitcoin and stakes in other companies.
This latest move extends Bitmine's lead in public company Ether treasuries as crypto balance sheet strategies become more prevalent. Bitmine now possesses over 4% of the total Ether in circulation, continuing its pursuit of a long-term goal to reach 5% of the total supply.
Bitmine has also been expanding its staking operations via its MAVAN platform, designed for institutional-grade Ethereum staking. The company reported that 3.33 million ETH is currently staked, generating over $200 million in annualized staking revenues. Lee previously projected that Ether could exceed $60,000 in the coming years.