BitMine Expands Ethereum Holdings to $13 Billion

Bitmine acquired 101,745 ETH for $237.7 million, boosting its holdings to 5,180,131 ETH.

Over the past week, Bitmine Immersion Technologies acquired 101,745 ETH. The transaction amounted to approximately $237.7 million at an average asset price of $2336.

This marks the third consecutive week that the company has purchased over 100,000 ETH. BitMine’s total portfolio has grown to 5,180,131 ETH, representing 4.29% of the Ethereum market supply.

The company’s goal is to control 5% of all issued coins. BitMine ranks first among public companies and second among all crypto treasuries in terms of Ethereum volume, following Strategy with its reserve of 818,334 BTC.

The total value of the firm’s reserves, including cash and stakes in other projects, is estimated at $13.1 billion. Besides Ethereum, the company owns 200 BTC, stakes in Beast Industries and Eightco Holdings, as well as $700 million in cash.

Approximately 84% of all accumulated coins (4.36 million ETH) are locked in staking through its own platform MAVAN. This generates about $297 million in annual income for the company at a yield of 2.91%.

BitMine’s CEO, Tom Lee, attributed the aggressive purchases to the end of the “mini-crypto winter.” According to him, demand for Ethereum will grow as artificial intelligence systems that use public blockchains develop.

Public Companies Accumulate 1.15 Million BTC

In the first quarter of 2026, public companies purchased 50,351 BTC. The total volume of bitcoins on their balance sheets reached 1.15 million BTC, accounting for 5.47% of the market supply. According to a report by Bitwise Asset Management, this figure increased by 4.6% compared to the previous quarter.

The growth occurred amid high volatility caused by a shock in the energy market. The majority of purchases were made by Strategy. During the reporting period, it acquired about 89,000 BTC. Due to a 20% drop in the exchange rate, the company’s unrealized loss on the position amounted to $14.46 billion.

Japanese Metaplanet rose to third place globally in terms of bitcoin reserves. The company purchased an additional 5,075 BTC, increasing its portfolio to 40,177 BTC.

Conversely, MARA Holdings reduced its reserves by selling 15,133 BTC to pay off debts. Overall, public miners sold more than 32,000 BTC in the first quarter, exceeding the total for the entire year of 2025.

Analysts note a market division: Strategy and Metaplanet use bitcoin as a long-term reserve asset, while cryptocurrency miners sell coins to maintain solvency.

In April, Tether’s investment division proposed merging three companies to create a leading public organization in the bitcoin industry.