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Bitmine Immersion Technologies, the largest publicly traded holder of Ethereum, has reported to the U.S. Securities and Exchange Commission (SEC) the acquisition of 101,627 ETH. These purchases occurred between April 13 and April 19.
Tom Lee, the chairman of Bitmine’s board and co-founder of Fundstrat Global Advisors, stated that this acquisition represents the company’s largest purchase of Ethereum since December 15. Over the past four weeks, Bitmine has maintained its purchasing pace for the altcoin, with the company forecasting that the baseline scenario for ETH’s price is “in the final stage of a mini-crypto winter.”
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Currently, Bitmine holds 4,976,485 ETH, valued at $11.5 billion, with an average price of $2,301 per coin. In addition to Ethereum, the company possesses 199 bitcoins. It also holds a stake in the holding company Beast Industries worth $200 million, a stake in the American company Eightco valued at $107 million, and cash amounting to $1.12 billion. The total value of its cryptocurrency and cash assets reaches $12.9 billion.
Bitmine has accumulated over 4% of the total circulating supply of Ethereum and aims to acquire 5% of the overall coin supply. The recent purchase was made shortly after the company began trading on the New York Stock Exchange (NYSE) — following its transition from the NYSE American and in light of its expanded share buyback program. Bitmine has also broadened its staking operations by launching a specialized platform, MAVAN (Made in America Validator Network), for large investors. The company reported that 3.33 million ETH is currently staked, generating an annual staking income exceeding $200 million.
Recently, at the Paris Blockchain Week 2026, Tom Lee made a prediction that Ethereum’s price could rise to $60,000 in the coming years. He believes that Ethereum’s growth will be influenced by the dynamics of the stock markets.
