Bitmine Immersion Technologies (Nasdaq: BMNR) announced on Monday that it added 71,252 Ether last week, the largest single-week accumulation since the week of December 22, 2025 (when it scooped 98,852 ETH). As of April 5, the firm's total Ethereum holdings rose to 4.803 million ETH, worth roughly $10.3 billion and representing about 3.98% of the global circulating supply of Ether.
CEO: Ethereum in "final phase of mini crypto winter"
Chairman Tom Lee said in the statement, "We believe Ether is in the final phase of a mini crypto winter." That conviction drove Bitmine to accelerate purchases over the past four weeks. The firm has publicly stated a long-term goal of accumulating roughly 5% of circulating Ether supply.
Conflict boosts ETH's safe-haven narrative
Lee highlighted that since the Iran conflict erupted six weeks ago, Ethereum has been the second-best performing asset, up 6.8%. That gain beat the S&P 500 by 1,130 basis points and gold by 1,840 basis points, reinforcing the asset's perceived safe-haven appeal amid geopolitical tensions.
Beyond buying, Bitmine actively stakes its Ether. The company reported that 3,334,637 ETH are currently staked, worth over $7.1 billion at $2,123 per Ether. The staking program generates additional yield while further reducing the liquid supply available on exchanges.
With institutional accumulation accelerating, Ethereum's on-chain staking rate and corporate ownership share are both at historic highs — though short-term price risks remain. Investors should make independent decisions based on their own risk tolerance.