Bitmine buys 101,901 ETH; holdings reach 5.078M, worth $12B

Bitmine purchased 101,901 Ethereum in the week of April 27, raising its total to 5,078,000 ETH, equal to roughly 4.21% of circulating supply and valued at about $12 billion at $2,369 per ETH.

The latest weekly purchase was the largest since mid-December 2025 and continued a four-week increase in buying. Weekly buys were about 40,000 ETH in January 2026, about 61,000 ETH in mid-March, 71,524 ETH in the week of April 13, and 101,901 ETH in the most recent week. Bitmine began 2026 holding roughly 3.5% of ETH and has set a target of reaching 5% of circulating supply.

Bitmine’s MAVAN (Made in America Validator Network) holds 3,701,589 ETH, representing 73% of the company’s Ethereum balance. MAVAN’s current annualized yield on that stake is about 3.033%, producing an estimated $264 million in annual revenue under prevailing conditions. If MAVAN’s yield were applied to Bitmine’s full ETH balance, annualized staking income would be roughly $363 million. The company plans to open MAVAN access to institutional investors, custodians and other parties.

Bitmine’s balance sheet shows about $13 billion in cryptocurrency investments, $940 million in cash and equity positions valued at about $291 million across two holdings the company describes as moonshots, bringing total assets to approximately $13.3 billion.

Tom Lee, who leads Bitmine, described Ethereum as being in the ‘final stages of a mini-crypto winter’ and pointed to Ether’s performance during recent geopolitical tensions. Lee cited a 1,696-basis-point outperformance of Ether versus the S&P 500 since the start of the Iran War.

Supporters of Bitmine’s BMNR include ARK’s Cathie Wood, Pantera, Founders Fund, Galaxy Digital, Kraken, Digital Currency Group and investor Bill Miller III. BMNR’s daily trading volume is about $845 million.

Bitmine has set a target of reaching a 5% share of circulating ETH.