Key Takeaways
- Bitmine’s Ethereum position has reached 4.87M ETH valued at $10.7B, establishing the firm as the world’s top corporate ether holder.
- Tom Lee, the company’s chairman, labeled ETH as “the wartime store of value,” highlighting its 17.4% surge since conflict with Iran escalated.
- The company stakes 3.33M ETH (representing 68% of its treasury), producing $212M in yearly staking income.
- Bitmine’s complete asset base totals $11.8B, incorporating cash reserves, Bitcoin, and strategic equity investments.
- BMNR shares have declined 32% in 2024 despite aggressive ETH acquisition strategy.
Bitmine Immersion Technologies (BMNR) has expanded its Ethereum reserves to an impressive 4.87 million ETH, currently worth approximately $10.7 billion. This achievement brings the firm to 81% completion of its ambitious target to acquire 5% of the total ETH supply.
JUST IN: BITMINE ADDS $156M IN ETH, HOLDINGS TOP $10.6B
Tom Lee’s BitMine Immersion Technologies bought 71,524ETH last week- it’s LARGEST accumulation since Dec 2025, bringing total holdings to 4.87M ETH. pic.twitter.com/CyrSNVdYpc
— Coin Bureau (@coinbureau) April 13, 2026
According to Monday’s announcement, Bitmine currently controls 4.04% of Ethereum’s entire circulating supply, solidifying its dominance as the world’s largest institutional ether holder.
In his statement, Chairman Tom Lee presented a compelling argument for Ethereum’s role as a macroeconomic asset. He characterized ETH as “the wartime store of value,” highlighting its impressive 17.4% appreciation during the seven-week period following the onset of the Iran conflict.
This performance significantly exceeded the S&P 500’s return by 1,830 basis points and surpassed gold by 2,743 basis points during the identical timeframe. According to Lee, the comparison with gold represents the most significant metric.
Bitmine Immersion Technologies, Inc., BMNR
The firm acquired 71,524 ETH during the previous week alone. This represents the fourth straight week of intensified purchasing activity, matching the peak accumulation velocity last observed in late December 2025.
Lee stated his fundamental outlook suggests ETH is “in the final stages of the mini-crypto winter.” This perspective indicates he interprets current valuations as an opportune entry point rather than a cautionary signal.
Staking Income Creates Additional Revenue Stream
Out of the total 4.87 million ETH portfolio, approximately 3.33 million tokens — roughly 68% — are currently staked. With a 7-day yield standing at 2.89%, this generates $212 million in projected annual staking income.
Lee observed that this figure has potential to expand to $310 million per year as additional treasury assets become actively staked. This represents a substantial income component for what is primarily a treasury-focused balance sheet.
The company’s aggregate holdings across all assets total $11.8 billion. This encompasses $719 million in cash reserves, a $200 million investment in Beast Industries, and an $85 million holding in Eightco Holdings (ORBS).
Bitmine characterizes its Eightco investment as “one of the only publicly listed equities in the world to give investors direct exposure to OpenAI.”
The company completed its uplisting from NYSE American to the primary New York Stock Exchange board on April 9, maintaining its BMNR trading symbol. Daily average dollar volume stands at $747 million, positioning it as the 117th most-traded stock among all U.S. public equities.
Institutional investors supporting the company include Cathie Wood’s ARK, Founders Fund, Pantera, Kraken, Galaxy Digital, and Lee personally.
Lee Identifies AI and Asset Tokenization as Growth Catalysts
Lee outlined two primary catalysts supporting Ethereum’s extended value proposition: traditional financial institutions tokenizing assets on blockchain networks, and autonomous AI agents requiring public, decentralized blockchains for functionality.
He positions ETH as foundational infrastructure — transcending its role as merely a DeFi token — with relevance to both institutional capital markets and artificial intelligence advancement.
Bitmine holds the second-largest position among all corporate cryptocurrency treasuries, trailing only Strategy’s holdings of 766,970 BTC.
Notwithstanding the accumulation narrative, BMNR stock has fallen 32% year-to-date. During Monday’s session, shares traded up approximately 1.50% at around $21.54, while ETH itself was trading near $2,206.
