Bitmine Buys 71,524 ETH, Reaches 4% of ETH Supply Milestone
Bitmine buys 71,524 ETH, crosses 4% of supply; assets hit $11.8B
Bitmine accelerated ETH accumulation last week. It bought 71,524 Ethereum (ETH) and now holds 4% of supply.
The firm said weekly purchases totaled about $157 million, its fastest clip since late December 2025. Chairman Tom Lee wrote the treasury has “maintained the increased pace” for four weeks, expecting the “final stages of the ‘mini-crypto winter.’” Source. Recent buy-rate ramping was flagged earlier this month here.
Total crypto and cash now stand at $11.8 billion at current prices PR. Breakdown:
- 4,874,858 ETH
- 198 Bitcoin (BTC)
- $200m stake in Beast Industries
- $85m stake in Eightco Holdings (“Moonshots”)
- $719m unencumbered cash
Bitmine says ETH holdings reached 4% of total supply. The goal is 5% of the 120.7m ETH float, now 81% complete NewsBTC. The company also announced an NYSE uplist effective April 9, 2026, and expanded its buyback to $4b PR.
Lee framed ETH as the standout since the start of the US–Iran war, citing a 17.4% gain, +1,830 bps vs S&P 500, and +2,743 bps vs gold, calling it a “wartime store of value.” He pointed to tokenization and agentic AI as twin tailwinds PR.
Quarter-to-date, ETH is up 3.7%, starting Q2 slightly green, per Daan Crypto Trades using CoinGlass data. He notes Q2 has closed green 8 of 10 times for ETH, with average 58.3% and median 15.3% returns X post.
Analyst Ted Pillows says ETH is back in a $2,150–$2,200 support zone. A hold could open $2,250 and last month’s top near $2,400 X post. Caution remains if momentum fades context.
