BitMine Accelerates Ethereum Accumulation Plans as “Mini Crypto Winter” Nears End

Publicly listed crypto treasury firm BitMine Immersion Technologies has significantly ramped up its accumulation of Ethereum, recording its largest weekly purchase since December with a fresh addition of over 71,000 ETH—valued at roughly $157 million.

This latest move brings BitMine’s total holdings to approximately 4.87 million ETH, worth more than $10.7 billion, cementing its position as the largest known corporate holder of the asset. The aggressive buying streak has now stretched across four consecutive weeks, with the firm consistently allocating around $150 million weekly toward ETH acquisitions.

According to chairman Tom Lee, the company views current market conditions as the tail end of a “mini crypto winter,” signaling what it believes could be a strategic accumulation window. BitMine’s long-term objective—internally dubbed the “alchemy of 5%”—aims to secure 5% of Ethereum’s circulating supply. With current holdings already exceeding 4%, the firm is closing in on that milestone.

Beyond accumulation, BitMine is actively deploying its assets into staking. At present, over 3.33 million ETH—valued at roughly $7.3 billion—has been committed to network validation. The company recently introduced its proprietary staking infrastructure, the Made in America Validator Network (MAVAN), designed to support both internal operations and institutional participants seeking exposure to staking rewards.

Once its full ETH reserve is staked, BitMine estimates annual rewards could surpass $300 million, further reinforcing its treasury-driven yield strategy.

On the corporate side, BitMine’s stock (BMNR) saw a modest uptick following its recent transition to the New York Stock Exchange, moving up from the NYSE American. Alongside the uplisting, the firm authorized a major expansion of its share repurchase plan, increasing the program to $4 billion—quadrupling its previously approved allocation.

Despite these developments, BMNR shares remain under pressure, down over 60% in the past six months, mirroring Ethereum’s broader decline from its previous peak near $4,946.

Still, BitMine’s continued accumulation and infrastructure push suggest it is positioning aggressively for a potential rebound in Ethereum’s long-term trajectory.