Over the past week, BitMine Immersion Technologies acquired 101,745 ETH for approximately $237.7 million at an average price of $2,336.

This marks the third consecutive week that the platform has purchased over 100,000 ETH. BitMine's total portfolio has now grown to 5,180,131 ETH, representing 4.29% of the Ethereum market supply.

The company's goal is to accumulate 5% of all issued coins. In terms of Ethereum holdings, BitMine ranks first among public holders and second overall among all crypto treasuries, following Strategy with its reserve of 818,334 BTC.

The total value of the firm's reserves, including cash and stakes in other projects, is estimated at $13.1 billion. In addition to Ethereum, the company holds 200 BTC, stakes in Beast Industries and Eightco Holdings, as well as $700 million in cash.

Approximately 84% of all accumulated coins (4.36 million ETH) are staked through its own platform, MAVAN. This generates around $297 million in annual revenue at a rate of 2.91%.

BitMine CEO Tom Lee attributed the aggressive purchases to the end of a "mini-crypto winter." He believes that demand for Ethereum will increase as artificial intelligence systems utilizing public blockchains continue to develop.

Public Companies Accumulate 1.15 Million BTC

In the first quarter of 2026, public companies purchased 50,351 BTC, bringing their total Bitcoin holdings to 1.15 million BTC, or 5.47% of the market supply. According to a report by Bitwise Asset Management, this figure increased by 4.6% compared to the previous quarter.

Source: DefiLlama.

This growth occurred amid high volatility caused by shocks in the energy market. The majority of purchases were made by Strategy, which acquired approximately 89,000 BTC during the reporting period. Due to a 20% drop in price, the company's unrealized loss on this position amounted to $14.46 billion.

Source: Bitwise Asset Management.

Japan's Metaplanet has climbed to third place globally in Bitcoin reserves, having added 5,075 BTC to increase its portfolio to 40,177 BTC.

In contrast, MARA Holdings reduced its reserves by selling 15,133 BTC to pay off debts. Overall, public miners sold more than 32,000 BTC in the first quarter, surpassing their total sales for all of 2025.

Analysts note a market divide: Strategy and Metaplanet view Bitcoin as a long-term reserve asset, while cryptocurrency miners are liquidating coins to maintain liquidity.

In April, Tether's investment division proposed merging three companies to create a leading public organization in the Bitcoin industry.