Bitmine Gobbles Up 71K ETH in a Week, Stakes 68% for Yield—Because Obviously Everyone Needs More Yield

Bitmine Immersion Technologies just hit a fresh all-time high on Ethereum after vacuuming up over 71,000 $ETH in the last week, pushing its total stash to a nosebleed-inducing 4.9 million $ETH. At this point, the company probably needs its own zip code for all these coins.

As of April 12, 2026, the company held 4,874,858 $ETH—roughly 4.04% of Ethereum's projected total supply of about 120.7 million. At the time of disclosure, each coin was valued at around $2,206, putting the holdings at a cool several billion. That's not a typo, and no, we're not adding extra zeros for fun.

Beyond Ethereum, Bitmine's balance sheet includes 198 Bitcoin (cute), $719 million in cash, and equity stakes in Beast Industries and Eightco Holdings. The firm's total crypto, cash, and investment portfolio clocks in at approximately $11.8 billion—because apparently, going all-in wasn't aggressive enough.

The pace of accumulation stood out. Bitmine grabbed nearly 71,524 $ETH in the final week of trading—its fastest buying rate since late December 2025. The company cited the ramp-up in purchases over the prior four weeks as "indicative" of confidence that Ethereum might be emerging from what it called a "mini-crypto winter." Translation: they saw捡便宜 opportunities and decided to go full degen on ETH.

Bitmine's buying spree has made it one of the largest Ethereum holders globally and a dominant force in institutional crypto treasuries. The firm ranks second only to Strategy Inc., which reportedly holds over 766,000 Bitcoin, but Bitmine remains the largest known corporate holder of Ethereum. We're talking the Michael Jordan of corporate ETH bags, if Jordan also owned the team, the stadium, and probably the refs.

Staking adds another layer to the strategy. As of April 13, 2026, Bitmine had staked 3,334,637 $ETH—about 68% of its holdings. At reported pricing, that's approximately $7.4 billion locked up. Staking removes coins from active circulation since locked $ETH can't be freely sold, tightening available supply. They're basically putting ETH in a vault and throwing away the key—while collecting yield for doing so.

Bitmine's staking operations are currently generating $212 million in annualized revenue. The firm projects that annual rewards could reach up to $310 million if all $ETH were fully staked. It reported a 7-day staking yield of 2.89%, just above the overall Composite Ethereum Staking Rate of 2.73%. Because when you already own 4% of the supply