TLDR
- Bitmine bought 71,524 ETH over the past week and lifted total holdings to 4,874,858 ETH.
- The company said its Ether position now equals about 4.04% of Ethereum’s circulating supply.
- Bitmine valued its ETH holdings at about $10.7 billion based on an Ether price of $2,206.
- The company said it has staked 3,334,637 ETH, which represents about 68% of its total holdings.
- Bitmine said its crypto, cash, and strategic investment assets totaled $11.8 billion as of April 12.
Bitmine bought 71,524 Ether over the past week and raised its holdings to 4,874,858 ETH. The company now controls about 4.04% of Ethereum’s circulating supply and values its crypto-linked assets at $11.8 billion. It also said the new purchase supports its target of owning 5% of Ether’s supply.
Bitmine Builds a Larger Ether Position with the Latest Weekly Purchase
PR Newswire reported on April 13 that Bitmine held 4,874,858 ETH as of April 12. At an Ether price of $2,206, those tokens were worth about $10.7 billion. The company said its broader asset base also included cash, bitcoin, and strategic equity stakes.
Those assets included 198 BTC, $719 million in cash, and a $200 million stake in Beast Industries. They also included an $85 million stake in Aetco Holdings, which trades under the ORBS ticker. Tom Lee, Bitmine’s chairman, said the company increased ETH purchases during what he called a “mini-crypto winter.”
Lee said, “The Iran war enters its 7th week,” while describing the conflict as a key market driver. He added that ETH gained 17.4% since the war started and outpaced the S&P 500. Lee also said Ether beat gold by 2,743 basis points during the same period.
He said that performance showed ETH working as a wartime store of value. Lee also linked Ethereum demand to Wall Street tokenization and agentic AI systems. He said those systems need public and neutral blockchains.
Staking, Cash, and BTC Holdings Lift Total Asset Value
Bitmine said it has staked 3,334,637 ETH, or 68% of holdings. Those staked assets were worth $7.4 billion. Using a 2.89% annualized yield, Bitmine estimated staking income at $212 million. Full staking could raise rewards to $310 million. The company said part of its staking runs through MAVAN, its platform. It plans to expand that service.
Lee called the purchase Bitmine’s biggest weekly Ether buy since mid-December. He said buying accelerated during the past month. That pace kept Bitmine ahead as the largest Ether holder. The company now owns more than 4%.
Bitmine said the purchase fits its treasury strategy centered on ETH. It also holds bitcoin and cash. Its bitcoin position totaled 198 BTC on April 12. Bitmine also listed Beast Industries and Aetco Holdings.
Lee said Ethereum performed strongly during the seven-week conflict period. He compared ETH with stocks and gold. He said the buying reflects confidence in Ethereum’s current phase. Lee called that phase a “mini-crypto winter.”
