This large purchase brings the company closer to its goal of holding 5% of Ethereum’s supply.
BitMine Immersion Technologies continued aggressively building its Ethereum (ETH) reserves. Over the past week, the company acquired 101,627 ETH▼$1,562.44 worth approximately $235 million. This marks the largest weekly purchase volume since mid-December 2025.
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As of April 20, 2026, BitMine’s reserves reached 4.976 million ETH. That represents 4.12% of Ethereum’s total supply. The company maintains its goal of reaching a 5% share.
Comment from Tom Lee
BitMine Chairman Tom Lee noted that the company has maintained a high purchase pace for the past four weeks. He believes the “mini-crypto winter” for Ethereum is coming to an end.
“We believe the current market pullback is an attractive accumulation opportunity, given Ethereum’s strengthening fundamentals,” Lee said.
Related: 200 Million Transactions—Why Record Ethereum Activity Isn’t Lifting ETH’s Price
He also emphasized that Ethereum benefits from two powerful drivers: mass asset tokenization on Wall Street and growing demand from autonomous AI systems that need neutral public blockchains.
Financial Results and Staking
Despite significant quarterly losses of $3.82 billion for the quarter ending February 28, the company is actively expanding its staking operations. BitMine has currently staked 3.334 million ETH, approximately 67% of its reserves, through its proprietary MAVAN platform. Expected annual staking yield is estimated at $221 million based on a current rate of approximately 2.89%.
Beyond Ethereum, BitMine holds $1.12 billion in cash, 199 Bitcoins (BTC), as well as stakes in Beast Industries ($200 million) and Eightco Holdings ($107 million).
Related: Ethereum Price Prediction 2026. Will ETH Reach New All-Time Highs in May?
