BitMine Ramps Up Ethereum Buying as Tom Lee Signals Crypto Recovery Ahead

20. Apr 2026 Posted by Laurent C. on News

BitMine Immersion Technologies (BMNR), recognized as the largest Ethereum-centered digital asset treasury company, has accelerated its ETH acquisition strategy as leadership grows more optimistic about market conditions. Chairman Tom Lee believes the recent crypto downturn may be approaching its final phase.

On Monday, the company disclosed that it purchased 101,627 ETH during the past week — its biggest weekly Ethereum accumulation since mid-December. Based on current market prices, the acquisition is valued at more than $230 million, pushing BitMine’s total Ethereum reserves to nearly 4.97 million ETH.

The aggressive buying comes at a time when many corporate crypto treasury players have reduced or paused their purchases. Aside from Michael Saylor’s bitcoin-heavy Strategy (MSTR), most large treasury firms have stepped back from active accumulation. BitMine, however, continues to stand out as one of the few major entities consistently adding Ethereum to its balance sheet, helping sustain demand for the asset.

Across all holdings, BitMine now controls approximately $12.9 billion in crypto and cash assets. Alongside its sizable ETH treasury, the company also owns 199 bitcoin, $1.12 billion in cash, and strategic equity positions in firms such as Beast Industries and Eightco Holdings.

Lee noted that BitMine has steadily increased its ETH buying pace over the last four weeks, reinforcing the company’s confidence that the so-called “mini crypto winter” is nearly over. He pointed to Ethereum’s sharp rebound from early February lows as a key signal of renewed momentum.

According to Lee, ETH has also outperformed traditional equities since geopolitical tensions involving Iran began, with growing demand linked to tokenization initiatives and artificial intelligence-related blockchain applications adding further support.

BitMine is also expanding its staking business. More than 3.3 million ETH — roughly two-thirds of its Ethereum reserves — has been committed to staking, generating an estimated $221 million in annualized revenue.

Meanwhile, security remains a major concern across decentralized finance. Ledger’s CTO recently warned that 2026 is on track to become DeFi’s worst year for hacks, citing incidents like the Kelp exploit as examples of how vulnerabilities at a single point can trigger broader systemic failures.