BitMine buys an additional 71,252 Ethereum, lifting holdings above 4.8 million

BitMine, the world’s largest corporate holder of Ethereum (ETH), has purchased an additional 71,252 ETH over the past week, expanding its total holdings to 4,803,334.

According to PR Newswire on the 6th, BitMine held 4,803,334 ETH as of April 5 (local time). At an ETH price of $2,123, the position is valued at about $10.2 billion. That equals 3.98% of total circulating supply (120.70 million). BitMine said it has maintained an expanded buying stance over the past four weeks, securing 3.98% of total ETH in circulation.

The company’s crypto, cash and strategic investment assets were tallied at $11.4 billion in total. This includes 4.8 million ETH, 198 Bitcoin, $864 million in cash, a $200 million stake in Beast Industries, and a $92 million stake in Ateco Holdings (ORBS).

Staked ETH currently stands at 3,334,637, worth about $7.1 billion at $2,123. This represents about 69% of total holdings. As of the 7th, the annualized yield is 2.78%, with annual staking income estimated at about $196 million. The company said that if all holdings were staked, annual rewards could expand to as much as $282 million.

BitMine has officially launched its institutional staking platform, the 'Made in America Validator Network (MAVAN),' and some ETH is being staked on the platform.

Tom Lee, chairman of BitMine, said, "As the Iran war enters its sixth week, Ethereum has risen 6.8% since the outbreak of the war, outperforming the S&P 500 by 1,130 bp and beating gold by 1,840 bp." He added, "The war is now having a greater impact on risk-asset markets than global central banks," and said, "Ethereum is one of the few assets that has risen even in wartime."

He continued, "Ethereum is benefiting from structural demand as Wall Street expands blockchain tokenization and agentic AI systems require public, neutral blockchains."