Ethereum’s largest corporate accumulator is keeping pressure on the market with a steady buying rhythm, adding more than 100,000 ETH for a third straight week as confidence builds around the asset’s long-term role in institutional finance and digital infrastructure.
Why Is BitMine Buying Over 100,000 ETH Every Week?
BitMine Immersion Technologies has continued its aggressive accumulation strategy, purchasing 101,745 ETH in the latest week after similar buys of 101,901 ETH and 101,627 ETH in prior weeks.
The most recent transaction alone is valued at over $240 million, based on Ethereum trading near $2,365.
Part of the latest acquisition included 10,000 ETH sourced directly from the Ethereum Foundation through an over-the-counter deal at an average price of $2,292.
This marks the second consecutive weekly purchase from the foundation, which is using proceeds to support operations and ecosystem funding.
How Big Has BitMine’s Ethereum Treasury Become?
The company now holds more than 5.18 million ETH, worth roughly $12.2 billion, making it one of the largest corporate holders in the market.
Its broader crypto and cash position totals about $13.1 billion, including 200 Bitcoin and $700 million in liquidity reserves.
Despite the accumulation, BitMine is still sitting on an estimated multi-billion-dollar unrealised loss, reflecting its early entry into Ethereum when prices were significantly higher during previous market peaks.
Staking Strategy And Rising Yield From Ethereum Holdings
BitMine has also expanded its staking operations, locking in more than 4.36 million ETH.
This generates an estimated annual staking income of around $297 million.
The firm has launched its own validator infrastructure, branded as the Made in America Validator Network (MAVAN), aiming to strengthen its yield generation while reducing liquid supply in circulation.
Recent disclosures suggest that over 10% of its latest ETH intake came from OTC transactions, reinforcing a strategy that combines direct accumulation with foundation-linked purchases.
Is “Crypto Spring” Already Here? Tom Lee Thinks So
Tom Lee, Chairman of BitMine, says the market may already be entering an early recovery phase despite cautious investor sentiment.
He described the current environment as “Crypto Spring, in our view, has commenced,” adding that muted sentiment often appears even as prices begin to strengthen.
Lee linked this outlook to U.S. policy developments, especially the proposed CLARITY Act, arguing that either approval or rejection would signal clearer conditions for the digital asset sector.
Senators have recently agreed on a bipartisan framework involving stablecoin rules, including limits on yield from reserves while allowing certain reward structures.
Market participants are now pricing in growing odds of passage.
Why Ethereum Is Attracting Institutional And AI-Driven Demand
Lee highlighted two structural forces supporting Ethereum’s outlook: the expansion of Wall Street tokenisation and the rise of agentic AI systems requiring neutral blockchain infrastructure.
He argued that Ethereum is increasingly being used not only as a store of value but also as a settlement layer for emerging digital economies.
Performance comparisons shared by the firm suggest Ethereum has outpaced the S&P 500 by more than 1,380 basis points since recent geopolitical disruptions, placing it among the stronger-performing global assets.
Will Ethereum Break Higher Or Stay Range-Bound?
Market sentiment is gradually shifting.
Prediction data from Myriad, operated by Dastan, shows traders now assigning around a 60% probability that Ethereum will move toward $3,000 rather than retreat to $1,500, a notable increase in bullish positioning over the past week.
Meanwhile, US spot Ethereum ETFs have seen renewed outflows after a brief streak of inflows, signalling that institutional positioning remains uneven even as accumulation by treasury firms continues.
BitMine Immersion Technologies shares have also reflected mixed sentiment, rising over 18% in the past month but still down more than 15% year-to-date, despite the company’s expanding ETH base and staking revenue growth.
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