Bitmine Immersion Technologies has sharply accelerated its pace of Ethereum accumulation, adding 101,627 ETH during the past week. This latest move brings Bitmine’s total ETH reserves to 4,976,485, representing 4.12% of all circulating Ethereum and marking the company’s fastest weekly increase since December 2025.
Bitmine’s growing momentum toward major ETH milestone
Founded as a specialist in high-performance immersion cooling and blockchain infrastructure, Bitmine Immersion Technologies is publicly traded and now stands as the world’s largest institutional holder of Ethereum. The company’s fresh accumulation puts it well ahead of other institutional investors in terms of sheer scale.
As of April 19, 2026, Bitmine’s cumulative holdings—including cash reserves and various equity stakes—total $12.9 billion. Alongside its significant ETH treasury, the company maintains $1.12 billion in cash, a $200 million position in Beast Industries, and a $107 million investment in Eightco Holdings, a NASDAQ-listed firm notable for its exposure to OpenAI-related ventures.
Bitmine has defined an internal accumulation target known as the “Alchemy of 5%” goal, aiming to hold 5% of Ethereum’s entire circulating supply. With current holdings at 4.12%, the company has completed 82% of that objective within nine months.
Chairman Thomas Lee sees signs suggesting the crypto market may be in the final phase of a “mini-crypto winter.” He pointed to Ethereum’s 41% increase since early February as evidence of renewed strength. Lee also emphasized ETH’s strong showing against the S&P 500, noting a 2,280-basis-point outperformance since escalations in the US-Iran conflict began.
Chairman Thomas Lee considers these positive signals as positioning ETH “as a leading war-time store of value.”
Comparatively, while Bitmine leads in ETH holdings, Strategy Inc. remains the top corporate holder of BTC, controlling 780,897 Bitcoin valued at $58.2 billion as of this report.
MAVAN staking boosts staking revenue stream
To expand its revenue sources, Bitmine recently launched the MAVAN platform—the Made in America Validator Network—primarily developed to support its own growing ETH reserves with state-of-the-art staking infrastructure. MAVAN now serves broader institutional and ecosystem partners seeking reliable staking solutions.
About 67% of Bitmine’s ETH, or 3,334,637 tokens (worth $7.7 billion), has been delegated to staking as of April 20, 2026. This has generated an annualized revenue stream of $221 million, reflecting a 7-day yield of 2.88% on staked ETH.
At full deployment, annual ETH staking rewards are projected at $330 million. The company’s staking returns are currently outperforming the Composite Ethereum Staking Rate benchmark, which sits at 2.76% and is administered by staking index provider Quatrefoil.
Meanwhile, Bitmine stock has been active among US equities, ranking at number 80 by daily trading volume among more than 5,700 listed shares. Daily trading volumes have averaged $1.2 billion over the past week, positioning the stock just above D-Wave Quantum and right below Uber Technologies.
