BitMine Immersion Technologies increased its Ethereum holdings sharply this week, adding 101,627 ETH in seven days. The move marks its fastest accumulation since December 2025 and signals a return to aggressive treasury expansion after months of slower activity.

As per the report, the latest purchase lifted BitMine’s total Ethereum holdings to 4,976,485 tokens. The position is valued at about $11.5 billion based on recent market prices. This places the firm among the largest digital asset holders globally.

BitMine now controls around 4.12% of Ethereum’s circulating supply. The scale strengthens its lead as the largest known ETH treasury holder. The company continues to expand exposure through direct accumulation rather than derivatives.

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BitMine Growth Accelerates

In addition to Ethereum, BitMine holds 199 Bitcoin. It also reports $1.12 billion in cash reserves. Minority stakes in other ventures contribute to a combined portfolio of about $12.9 billion.

The accumulation follows a four-week period of steady ETH purchases. Company leadership linked the activity to improving market conditions. Ethereum has rebounded from early 2026 lows and gained relative strength against traditional markets.

Chairman Tom Lee commented that ETH has risen 41% from early February levels. He also noted that Ethereum has outperformed the S&P 500 by 2,280 basis points during the same period. These figures reflect recent market momentum.

Lee linked the trend to a decrease in geopolitical risk associated with the conflict between the US and Iran. He believes that Ethereum continues to perform exceptionally well as one of the best-performing assets during that time. Lee compared this to the performance witnessed on the rise in the prices of crude oil.

He further emphasized the structural aspects driving the demand for Ethereum. According to him, more tokenization through blockchain is being conducted by the banks. Additionally, he indicated that AI technology is now using public networks.

The majority of the ETH owned by BitMine is utilized in staking activities. The company claims that over 3.3 million ETH are being used in these activities. This represents almost two-thirds of their holdings.

The income from the staking services is estimated to be over $200 million annually. These activities are enabled through MAVAN, a network of validators.

Ethereum Price Trends and BitMine Uplisting

As of press time, Ethereum (ETH) is trading near $2,308. This represents a decrease of 0.76% in the last 24 hours. Trading volume for the asset amounted to $20.14 billion within the same period. In terms of market cap, Ethereum stood near $278.39 billion, according to CoinMarketCap. 

Recently, BitMine decided to uplist its shares to the New York Stock Exchange (NYSE). This happened after the company listed on the NYSE American in the month of April. Shares are traded under the ticker BMNR.

At press time, BMNR shares were trading near $22.16, as per Yahoo Finance. With the listing, more access would be granted to capital markets.

It has nearly 5 million ETH, thus making it the most extensive Ethereum treasury. Moreover, it is one of the largest crypto holders, right behind Strategy Inc.

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