Bitmine Immersion Technologies purchased 71,524 ETH over the past week. That pushed its total holdings to approximately 4.87 million tokens—roughly 4.04% of Ethereum’s entire supply, according to data from CoinGecko.
It’s the company’s fastest weekly accumulation since December 2025. The move brings Bitmine closer to its stated goal: owning up to 5% of all ETH. That’d cement its position as the largest corporate Ethereum treasury.
The New York Stock Exchange-listed company now holds a commanding lead over other corporate ETH holders. That includes SharpLink and The Ether Machine, as reported by CoinGecko. Bitmine’s balance sheet also includes 198 BTC and approximately $719 million in cash. It’s a diversified but Ethereum-focused treasury strategy.
Around 3.33 million of Bitmine’s ETH is staked through its MAVAN platform. That generates projected annual rewards of about $310 million at current yields. The staking income transforms the company’s massive token position into a substantial recurring revenue stream. It’s a treasury model that actively produces yield. Not just holding assets.
Chairman Tom Lee highlighted Ether’s recent outperformance versus traditional assets. He cited demand from Wall Street tokenization and increasing use of public blockchains by AI systems. ETH has gained approximately 7% over the past month. That trims its year-to-date decline to roughly 25%.
The strategy mirrors Bitcoin treasury accumulation trends. Particularly Strategy’s approach. Between April 6 and 12, Strategy acquired 13,927 BTC for $1 billion. That brought its total to 780,897 BTC. It’s edging toward the 800,000-token milestone. Over the past 30 days, Strategy led Bitcoin accumulation. Japan’s Metaplanet and smaller firms added modest amounts. Several Bitcoin miners sold sizeable positions during the same period. That includes MARA and Riot.
Bitmine’s march toward controlling 5% of Ethereum’s supply concentrates a meaningful portion of the network in a single public company’s hands. That concentration could influence staking dynamics, governance decisions, and market liquidity.
Its NYSE listing may also channel institutional capital toward ETH exposure through equity purchases. Not direct token acquisitions. That could potentially broaden Ethereum’s investor base. It’d also amplify corporate influence on the network’s future direction.
