Bitmine Immersion Technologies, the second-largest public crypto holding company, provided a detailed update on its Ethereum (ETH) strategy on Monday, along with broader figures covering its crypto portfolio, including total holdings and so-called “moonshots.”
The company said its combined crypto-related positions now reach $13.3 billion, while the key focus for investors remains its Ethereum accumulation, which it says has hit a new high.
Bitmine Targets 5% Of Ethereum SupplyHe framed it as an important step toward a longer-term objective: acquiring 5% of the Ethereum supply. In his remarks, Lee said the speed of accumulation has been “astonishing,” with Bitmine reaching the 5 million mark in roughly 10 months.
He argued this dynamic reinforces the idea of ETH as a particularly resilient asset in “war-time,” portraying it as both meaningful and distinctive relative to other holdings.
Beyond valuation and performance, Lee connected Ethereum’s momentum to two larger trends. He said Ethereum benefits from Wall Street tokenizing activity on the blockchain, and also from the rise of agentic artificial intelligence (AI) systems that, in his framing, increasingly require public and neutral blockchains.
Highest Purchase Pace Since DecemberOn the trading pace itself, Lee said Bitmine has maintained an increased rate of ETH purchases over each of the past four weeks, describing this as evidence of an ongoing accumulation strategy even amid changing market conditions.
The company also detailed its staking position. As of April 26, 2026, Bitmine reported that its total staked ETH stands at 3,701,589 tokens, which it valued at $8.8 billion using the $2,369 per ETH price. In addition to that figure, Bitmine said its annualized staking revenues are now $264 million.
At the time of writing, Ethereum was trading at $2,292. Despite improving market conditions, it retraced 3% on Monday after failing to surpass the $2,400 resistance level.
Featured image from OpenArt, chart from TradingView.com
