Bitmine acquires 71,524 Ethereum, reaching 81% of its ETH supply accumulation goal

Bitmine Immersion Technologies, a former Bitcoin mining operation turned digital asset treasury firm, said Monday it added 71,524 Ethereum over the past week, its largest weekly purchase since December 2025.

The company now holds nearly 4.9 million ETH and is 81% of the way toward its Ethereum accumulation goal.

Discussing Ethereum’s market performance, Bitmine Chairman Thomas “Tom” Lee said ETH has been the top-performing asset since the start of the Iran war, now in its seventh week. The conflict continues to be a key macro driver of global markets.

ETH has gained around 17% and outperformed equities by 1,830 basis points, while also surpassing gold by 2,743 basis points, Lee noted, calling the asset “the wartime store of value.”

Staking through MAVAN

Since launching its proprietary Ethereum staking platform, MAVAN (Made in America VAlidator Network), late last month, Bitmine has staked around 3,3 million ETH, valued at approximately $7.4 billion.

The company is now not only the largest ETH treasury firm but also the leading ETH staking entity.

Staked ETH accounts for about 68% of Bitmine’s total ETH holdings. The company’s 7-day staking yield of 2.89% exceeds the Composite Ethereum Staking Rate (CESR) of 2.73%, indicating above-benchmark performance.

According to Lee, once fully deployed through MAVAN and its partners, the staking operation could generate around $310 million annually, based on a 2.89% 7-day yield. Current annualized staking revenues stand at $212 million.

NYSE uplisting and liquidity

The NYSE uplisting on April 9 moved Bitmine from the smaller NYSE American exchange, where it had traded under the same ticker, BMNR.

The stock now trades an average of $747 million per day, making it the 117th most liquid equity in the US out of more than 5,700 listed names, between Intuitive Surgical and Applied Digital.

Alongside the uplisting, Bitmine expanded its share buyback authorization from $1 billion to $4 billion. That ranks among the ten largest repurchase programs approved in 2026.

The investor roster includes ARK Invest’s Cathie Wood, Peter Thiel’s Founders Fund, Pantera Capital, Kraken, Digital Currency Group, Galaxy Digital, and Lee himself.

Key players keep stacking

The market may be cooling, but accumulation is not. Bitmine and Strategy keep building through changing conditions, while many participants step aside for now.

Strategy revealed today it had acquired $1 billion worth of Bitcoin last week, boosting its total stash to 780,897 coins.