Bitmine, one of the cryptocurrency market’s leading institutional investors, has made a major move by acquiring 101,901 Ethereum (ETH) in a single transaction. With this latest purchase, Bitmine’s total Ethereum holdings have soared to 5,078,000, enabling the company to now control approximately 4.21% of the global circulating ETH supply. The acquisition represents Bitmine’s largest weekly ETH purchase since mid-December, solidifying its position as a dominant institutional holder.
Institutional reserves climbing rapidly
Bitmine continues to solidify its presence in the digital asset sector at a time of growing institutional adoption. The company’s total portfolio now amounts to $13 billion in cryptocurrencies, in addition to $940 million in cash, $91 million invested in Eightco Holdings, and $200 million with Beast Industries, bringing total assets to $13.3 billion. According to CryptoAppsy data, the latest ETH acquisition occurred at an average price of $2,369 per token. By early 2026, Bitmine had already amassed around 3.5% of the circulating ETH supply, but this share has grown significantly following its recent purchases.
Bitmine’s weekly ETH acquisitions have accelerated throughout 2024. While the company averaged about 40,000 ETH per week in January, the figure climbed to 61,000 by mid-March. In the second week of April, Bitmine added 71,524 ETH to its reserves, and an official statement on April 27 announced a one-week record acquisition of 101,901 ETH.
Tom Lee observed that Ethereum has outperformed the S&P 500 index in the aftermath of recent geopolitical tensions and stated that the so-called “mini crypto winter” is drawing to a close. According to Lee, ETH has distinguished itself as a safe haven asset during such turbulent periods.
MAVAN drives staking income growth
To maximize the yield on its massive Ethereum holdings, Bitmine relies heavily on its own validator platform known as MAVAN for staking operations. Currently, 3,701,589 ETH—amounting to 73% of Bitmine’s total ETH balance—is staked via MAVAN. Under current conditions, the platform delivers approximately $264 million in annual staking income. If the company were to stake all its ETH on MAVAN, projected annual income could rise to $363 million.
Initially developed as an internal infrastructure project, the MAVAN platform will soon be opened up to other institutional investors and custody firms. MAVAN currently offers an annual staking yield of 3.033%, slightly above the general ETH staking rate of 3.028%.
Long-term blockchain investment strategy
Bitmine’s accumulation of Ethereum is not solely based on price appreciation. Company executives emphasize that the long-term direction of traditional finance strongly depends on blockchain infrastructure, with Ethereum playing a pivotal role in asset tokenization. They also highlight that artificial intelligence applications increasingly require access to public blockchain platforms, with Ethereum offering key advantages over private chains.
Bitmine’s high-level strategy has earned backing from industry heavyweights. Prominent financial executive Cathie Wood and her firm ARK Invest, along with Pantera Capital, Galaxy Digital, Kraken, DCG, and Bill Miller III, are all supporting Bitmine’s growth ambitions. Bitmine shares see a daily average trading volume of $845 million, ranking as the market’s 129th most actively traded stock.
