Bitmine Immersion Technologies posted its largest weekly Ethereum purchase of the year, buying 71,179 ETH for about $147 million at an average price near $2,005 per token. The purchase extended the company’s accumulation streak to five consecutive weeks and pushed its weekly buying pace well above the previous 45,000–50,000 ETH range.
The latest acquisition lifted Bitmine’s disclosed treasury to 4,732,082 ETH, or about 3.92% of total Ethereum supply. That scale, combined with the company’s aggressive staking strategy, places Bitmine among the most influential single-entity holders shaping Ethereum liquidity and institutional flow dynamics.
🧵
1/ BitMine provided its latest holdings update for March 30, 2026:
$10.7 billion in total crypto + "moonshots":
– 4,732,082 ETH at $2,005 per ETH (@coinbase)
– 197 Bitcoin (BTC)
– $200 million stake in Beast Industries @MrBeast
– $102 million…— Bitmine (NYSE-BMNR) $ETH (@BitMNR) March 30, 2026
Bitmine deepens its Ethereum concentration
Bitmine’s latest disclosed purchase reinforced the core features of its treasury strategy: rapid accumulation, a strong preference for staking, and a stated intention to increase its share of total ETH supply. The company said it now holds 4,732,082 ETH, with more than 3.14 million ETH already staked, representing about 66.36% of its total holdings.
That staked allocation is valued at more than $6.3 billion, and the company estimates it can generate roughly $177 million in annualized staking revenue. The treasury is therefore being positioned not only as a reserve asset base, but also as a large-scale yield-generating balance-sheet engine.
Bitmine has also made its longer-term ambition clear. The company is openly targeting a 5% ownership stake in total ETH supply, a goal that would further increase its importance in the market if the current pace of buying continues.
A visible buyer in a softer corporate landscape
The timing of the purchase is notable because other corporate treasuries have recently slowed or paused their own buying activity. With some peers stepping back after earlier accumulation runs, Bitmine has emerged as the most visible corporate buyer still adding meaningfully to Ethereum exposure.
Chairman Tom Lee framed the strategy around a specific market view, saying Bitmine’s base case sees Ether as moving through the final stage of a “mini-crypto winter.” That conviction appears to be driving both the faster buying cadence and the company’s willingness to keep locking a large share of its holdings into staking contracts.
This strategy has two immediate market effects. Large weekly purchases create a steady source of demand, while heavy staking removes a significant amount of ETH from active circulation and reduces the liquid supply available to market makers and on-chain counterparties.
The purchases have also arrived during a period of broader market stress, including rising oil prices and geopolitical tension that have pressured risk assets more generally. Against that backdrop, Bitmine’s continued accumulation stands out as a direct contrast to prevailing macro caution and to the more defensive posture of other corporate buyers.
Why the market is watching Bitmine more closely
If Bitmine maintains this accelerated pace and continues staking at similar levels, its path toward a 5% share of ETH supply would have broader implications for price sensitivity and market depth. A larger share of Ethereum locked into one treasury and then staked would tighten liquid supply further and raise the importance of Bitmine’s buying behavior in short-term market pricing.
For institutions, traders, and liquidity providers, the practical takeaway is straightforward. Bitmine’s growing concentration of ETH is becoming a variable that could meaningfully affect on-chain liquidity, the marginal cost of selling pressure, and the responsiveness of Ether’s price to new inflows.