Bitmine Makes Highest Ethereum Acquisition In 2026

• Bitmine now controls 4.04% of Ethereum’s circulating supply after increasing its treasury to over 4.87 million ETH
• Tom Lee called Ether a “wartime store of value” as it significantly outperformed the S&P 500 amid the US-Iran war.

Bitmine Immersion Technologies (BMNR) reinforces its status as the largest Ethereum (ETH)-focused Digital Asset Treasury (DAT) company. On Monday, it announced the acquisition of 71,524 ETH, its largest Ether secured in 2026.

Bitmine’s Latest Ethereum Purchase

The company didn’t disclose the amount it bought the tokens over the last seven days. However, it valued Ethereum at 2,206 per token at the time of its report, bringing its latest purchase to around $157.78 million.

The move increases Bitmine’s Ether portfolio to 4,874,858 ETH, accounting for approximately 4.04% of the crypto asset’s circulating supply of 120.69 million ETH. Out of its total holdings, it staked 3,334,637 ETH, worth $7.4 billion, across its proprietary MAVAN (Made-in America VAlidator Network) and other staking partners.

The staked 68% of Bitmine’s Ether haul generates $212 million in staking revenue annually. However, the business expects the figures to surge to $310 million annually once it stakes the same amount of Ether in the MAVAN platform.

In addition to its holdings, Bitmine maintains 198 Bitcoin (BTC), a $200 million stake in Beast Industries, a $85 million stake in Eightco Holdings (ORBS), and $719 million in cash reserves.

Bitmine remains the largest publicly traded company by Ether holdings. It’s already a long shot from the second-largest on the rankings held by Sharplink, possessing 868,699 ETH.

Moreover, Bitmine notably prides itself as the second-largest DAT in the world, trailing only Strategy’s (MSTR) 780,897 BTC portfolio.

Reason for Stacking Up Ether

Tom Lee, the Chairman of Bitmine, claimed that Ethereum is the “most important driver of global markets” despite ongoing tensions in the Middle East. He even referred to it as a “wartime store of value,” noting that it outperformed the S&P 500 by 1,830 basis points, with its value rising 17.4% since the start of the US-Iran war seven weeks ago.

Beyond the Middle East conflict, Lee is bullish on ETH benefiting from the dual tailwinds of Wall Street’s real-world asset (RWA) tokenization activities on the blockchain and its growing integration of agentic AI (artificial intelligence) ecosystem.

Bitmine targets to accumulate up to 5% of Ethereum’s total supply under its “Alchemy of 5%” philosophy. Besides Ether’s potential to reach new heights in the next bull cycle, the company leverages ETH’s lucrative returns through staking protocols, particularly MAVAN.

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