9:05 AM ▪
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The battle for crypto coffers is no longer just about Bitcoin. Bitmine is now taking its Ethereum advantage to a rarely seen level with a new wave of purchases that reinforces both its market weight and its bullish narrative around ETH.
In short
- Bitmine bought 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% mark.
- His bet combines accumulation, massive bets and growing visibility on Wall Street.
A week that changes the scale
Bitmine bought 71,252 ETH in the week ending April 5, 2026. The move brings its reserves to 4,803,334 ETH, making it the largest corporate treasury focused on the Ethereum crypto, according to the company. At the market level, it is no longer a simple reinforcement. It’s a show of strength.
The value of this reserve comes to about $10.3 billion based on the $2,123 price Bitmine used in its update. The group now claims to control 3.98% of the total ETH supply, which is estimated at 120.7 million tokens. The number stands out because it gives a very specific idea of the size of the bet.
Tom Lee also makes this point. According to him, this is the highest weekly buying pace since the week of December 22, 2025. In other words, Bitmine is not accelerating by accident. The company deliberately increases the rate at the moment when it considers the cycle to be most favorable.
Bet on organized scarcity
The goal behind this strategy remains clear: to reach 5% of Ethereum’s circulating supply. Bitmine already explains that it has covered more than 79% of this journey in nine months. This tag provides a simple interpretation of his plan: to accumulate enough ETH to be considered not only by size, but also by scarcity.
This bet is not only based on the idea of future price growth. It also aims to turn the crypto treasury into a revenue machine. The more ETH a company holds, the more staking revenue it can earn. The more he bets, the more he solidifies his role in the Ethereum ecosystem.
Bitmine says it has already staked 3,334,637 ETH, about $7.1 billion at the benchmark price used in its statement. The company is even raising its current annual revenue of $196 million, with a potential of $282 million if all of its ETH pools are widely deployed. We are no longer talking about dormant treasure at this point. We are talking about an asset at work.
Tom Lee pushes the defensive ethereum narrative
Tom Lee doesn’t just buy cryptocurrencies. It also sells market interpretation. For him, Ethereum is nearing the end of the “mini-crypto winter”. This phrase is important because it helps justify the aggressive accumulation of recent weeks. It basically says the trough is almost behind us.
It goes even further. In his note, Lee presents ETH as a sort of “war-time custodian of highlight value,” a 6.8% increase since the start of the Iran conflict that has outperformed the S&P 500 and even gold over that period. That sentence is powerful. However, it remains his thesis, not a neutral market verdict.
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Lydia, a teacher and IT engineer, discovers Bitcoin in 2022 and dives into the world of cryptocurrencies. It popularizes complex topics, deciphers Web3 challenges and defends the vision of an open, inclusive and decentralized digital future.
DISCLAIMER OF LIABILITY
The views, thoughts and opinions expressed in this article are solely those of the author and should not be construed as investment advice. Before making any investment decision, do your own research.
