Ethereum News: BitMine’s Biggest 2026 ETH Buy Lifts Holdings Past 5M Token

Key Insights:

• BitMine bought 101,901 ETH worth $236 million last week, its largest 2026 purchase.
• The firm now holds 5.07 million ETH, about 4.21% of the circulating supply.
• Staking 3.7 million ETH generates nearly $264 million in annualized yield.

Crypto investors tracked the best crypto stocks now after BitMine Immersion Technologies expanded its Ethereum treasury. The firm bought 101,901 ETH last week, lifting holdings above 5 million tokens. The move came as Ethereum traded near $2,300 and institutional demand for yield strategies increased. The update also placed BitMine among the most aggressive crypto treasury firms in 2026, competing with Bitcoin-focused players shifting into Ethereum.

Best Crypto Stocks Now: BitMine Builds Largest ETH Treasury

BitMine emerged among the best crypto stocks now after reporting its largest weekly Ethereum purchase this year. The company accumulated 101,901 ETH, slightly above its prior weekly buy of 101,627 ETH.

The firm reached 5,078,386 ETH in total holdings within about 10 months. This position equaled roughly 4.21% of Ethereum’s circulating supply, making it one of the largest known ETH treasuries.

BitMine shifted from Bitcoin mining into a digital asset treasury model in mid-2025. Since then, it scaled accumulation through over-the-counter deals and direct purchases. One recent transaction included 10,000 ETH acquired from the Ethereum Foundation at about $2,387 per token.

The company’s Ethereum position carried an estimated market value of $11.75 billion. Total assets, including cash and Bitcoin holdings, stood around $13.3 billion.

Tom Lee Says ETH Is Gaining Collateral Use

Tom Lee framed Ethereum as more than a speculative crypto asset after BitMine crossed the 5 million token mark. He cited research from Etherealize, which argues ETH crypto could gain wider use as a store of value and collateral in digital finance.

Lee also said Ethereum has outperformed the S&P 500 since the Iran conflict started. According to his comments, ETH has beaten the index by 1,696 basis points over the period. He described ETH as a “wartime store of value,” citing its recent market strength.

His view connects Ethereum’s role to tokenization, settlement activity, and the use of public blockchains in artificial intelligence systems. These themes have remained central to institutional Ethereum discussion in 2026. BitMine’s buying pace shows how one major treasury firm is positioning around that view.

Staking Operations Add Yield to ETH Treasury

BitMine has also expanded staking around its Ethereum position. The company has staked more than 3.7 million ETH, equal to about 73% of its total holdings. The staked tokens generate about $264 million in annualized revenue from yield.

The firm launched its Mavan staking platform in March. The platform supports BitMine’s own treasury operations and targets institutional clients seeking Ethereum staking infrastructure. The move gives BitMine an operating revenue line tied to its ETH reserve.

Staking also separates BitMine’s Ethereum treasury model from a simple buy-and-hold strategy. The company can earn yield while holding a large share of ETH supply. However, staking revenue still depends on network conditions, validator rewards, and broader Ethereum activity.

Ethereum Price Shows Long-Term Targets and Resistance

A chart shared by Crypto Patel on X placed Ethereum near the $2,300 zone while showing long-term upside targets linked to Tom Lee and BitMine analysis. The chart marked a higher target area near $15,385 and a larger long-term level near $60,000. It also labeled the current range as a liquidity grab and accumulation zone.

Ethereum is trading below its old all-time high zone near $4,876. The ETHUSD chart also showed resistance in the $3,500 to $4,000 range, where ETH faced several rejections in previous cycles. The chart projected a possible move above those levels over a multi-year period.

Crypto Patel described the setup as a possible move from $2,000 to $60,000. ETC crypto would need to clear multiple resistance zones before approaching the higher targets shown on the chart.

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