BitMine's Ethereum Treasury Tops 5 Million ETH After Fresh $240M Buy

BitMine Immersion Technologies has extended its Ethereum accumulation streak, lifting total holdings above 5 million ETH and underscoring its growing footprint as an institutional holder. In its latest round, the company bought 101,901 ETH at an average price of $2,369, an outlay of more than $240 million. BitMine said this was its most aggressive weekly purchase since December 2025. Company disclosures put BitMine's Ethereum holdings at about 5.078 million ETH, roughly 4.21% of Ethereum's circulating supply. Total crypto and cash holdings are estimated at around $13.3 billion. Outside ETH, BitMine reported a smaller Bitcoin position of about 200 BTC and cash reserves of nearly $940 million. Staking remains central to the firm's Ethereum strategy. BitMine said roughly 3.7 million ETH is currently staked across its validator network. It estimates annual staking revenue at about $264 million under current conditions, with projections rising to roughly $363 million if all holdings were staked. The company has ramped up buying through April, with multiple large acquisitions in quick succession. It also disclosed that the Ethereum Foundation recently sold nearly $24 million worth of ETH directly to BitMine, pointing to continued institutional participation. BitMine's leadership said Ethereum is increasingly being treated as a strategic store of value during periods of global uncertainty, a view that has guided the firm's ongoing purchases and longer-term positioning. BitMine's latest buying wave has pushed its ETH treasury beyond 5 million tokens, reinforcing its role as a major institutional participant in Ethereum's evolving landscape.