Bitmine Boosts Its Treasury to 4.8M ETH, Total Assets Hit $11.4B

Bitmine Immersion Technologies, the NYSE-listed firm chaired by Fundstrat’s Tom Lee, has ramped up its Ethereum buying spree, snapping up another 71,252 ETH in the latest week.

The aggressive purchase lifts the company’s total holdings to 4,803,334 ETH — roughly 3.98% of the cryptocurrency’s entire supply. At current prices, the ETH stash alone is valued at about $8.64 billion. Including cash reserves of $864 million and other assets, Bitmine’s combined crypto and cash holdings now stand at $11.4 billion.

Announced in its latest holdings update for April 6, the company also reported 3,334,637 ETH currently staked, generating an estimated $7.1 billion in staked value and providing a steady yield stream through its operations.

The strategic pivot

This latest move continues Bitmine’s self-described “Alchemy of 5%” strategy, which aims to secure up to 5% of total ETH supply and transform the volatile asset into a core treasury engine. The firm has already covered 79% of this goal’s path. Originally rooted in Bitcoin mining, the firm has pivoted hard toward Ethereum under Lee’s guidance, steadily tightening available supply even amid market pressure.

Bitmine’s treasury approach mirrors Strategy’s Bitcoin playbook, while the firm is primarily focusing on the second-largest crypto and generating yields from it. 

With staking infrastructure like the planned MAVAN network in development, Bitmine is positioning itself as a major institutional player in Ethereum’s ecosystem. The company remains one of the few large corporate buyers actively accumulating during the current cycle.

Also read: $285M Gone in 12 Minutes: How a Fake Token and Stolen Keys Gutted Drift Protocol

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