Bitmine Immersion Technologies announced it acquired 71,524 Ethereum in the past week, its largest single-week purchase since December 2025. The digital asset treasury firm now holds nearly 4.9 million ETH, reaching 81% of its accumulation goal.
Bitmine Chairman Thomas "Tom" Lee highlighted Ethereum's performance, noting it has been the top-performing asset amid the ongoing Iran conflict. ETH has gained approximately 17%, outperforming equities and gold. Lee described ETH as a "wartime store of value," benefiting from Wall Street tokenization and the growing demand from agentic AI systems for public blockchains.
Since launching its proprietary staking platform, MAVAN, Bitmine has staked around 3.3 million ETH, valued at approximately $7.4 billion. This makes Bitmine the largest ETH treasury firm and a leading ETH staking entity. Staked ETH represents about 68% of its total ETH holdings, with a 7-day staking yield of 2.89% exceeding the Composite Ethereum Staking Rate (CESR).
The company's staking operations, once fully deployed, are projected to generate around $310 million annually. Current annualized staking revenues stand at $212 million.
Bitmine also completed a NYSE uplisting on April 9, moving from the NYSE American exchange. The stock now trades an average of $747 million daily, ranking among the top 117 most liquid equities in the US. The company expanded its share buyback authorization to $4 billion, one of the ten largest repurchase programs approved in 2026. Notable investors include ARK Invest's Cathie Wood and Peter Thiel’s Founders Fund.