The battle of crypto treasuries no longer just revolves around bitcoin. Bitmine is now pushing its advantage over Ethereum to a rarely seen level, with a new burst of buying that reinforces both its market weight and its bullish narrative around ETH.
In brief
- Bitmine purchased 71,252 ETH in one week and now holds 4.803 million ETH.
- The company controls 3.98% of the total supply and is still targeting the 5% threshold.
- His bet links accumulation, massive staking and increased visibility on Wall Street.
A week that changes scale
Bitmine purchased 71,252 ETH in the week ended April 5, 2026. This move brings its reserves to 4,803,334 ETH, making it the largest corporate treasury focused on crypto Eth according to the company. On a market scale, this is no longer a simple reinforcement. It's a show of force.
The value of this reserve reaches approximately $10.3 billion based on the price of $2,123 used by Bitmine in its update. The group now claims to control 3.98% of the total ETH supply, estimated at 120.7 million tokens. The figure is striking, because it gives a very concrete idea of the scale of the bet.
Tom Lee also insists on this point. According to him, this is the highest weekly purchasing rate since the week of December 22, 2025. In other words, Bitmine is not accelerating by accident. The company deliberately increases the pace when it judges the cycle to be most favorable.
The bet of organized scarcity
Behind this strategy, the objective remains clear : Reach 5% of Ethereum’s circulating supply. Bitmine already explains that it has covered more than 79% of this path in nine months. This milestone gives a simple reading of his plan: accumulate enough ETH to be significant not only in size, but also in rarity.
This bet is not only based on the idea of a future increase in the price. It also aims to transform crypto cash into a yield machine. The more ETH the company holds, the more staking revenue it can capture. The more it stakes, the more it consolidates its role in the Ethereum ecosystem.
Bitmine already says it has staked 3,334,637 ETH, or approximately $7.1 billion at the reference price used in its press release. The company even claims a current annualized revenue of $196 million, with a potential of $282 million if all of its ETH holdings end up being deployed at scale. There, we are no longer talking about a dormant treasure. We are talking about an asset put to work.
Tom Lee pushes the narrative of a defensive Ethereum
Tom Lee doesn't just buy crypto. He also sells a market reading. For him, Ethereum is approaching the end of a “mini-crypto winter”. This formula matters because it serves to justify the aggressive accumulation of recent weeks. It amounts to saying that the trough would be almost behind us.
He goes even further. In his communication, Lee presents ETH as a sort of “wartime store of value”, highlighting a 6.8% increase since the start of the conflict in Iran, higher than that of the S&P 500 and even gold over the cited period. The formula is strong. However, it remains his thesis, not a neutral market verdict.
Maximize your Tremplin.io experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
