The world’s largest corporate owner of digital silver ethereum-buy">is doubling down on its massive bet. On Monday, Bitmine Immersion Technologies (BMNR) announced that it bought 101,627 Ethereum (ETH-USD) last week. This is the company’s biggest purchase since late 2025 and shows that the firm is moving fast to control a huge portion of the network.
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Bitmine Controls Over 4% of All Ether Following Record Purchase
The company is trading its cash reserves to build a treasury that now holds nearly 5 million tokens.
This latest buy happened between April 13 and April 19, and is a key part of what management calls the “Alchemy of 5%.” Bitmine now owns 4.12% of the entire circulating supply of Ether as a result of adding these new coins. Chairman Tom Lee noted that the company has kept up a fast buying pace for a month because he believes the recent market slump is just a “mini-crypto winter” that is almost over.
Bitmine’s Staking Network Generates $200 Million in Annual Revenue
Bitmine is putting its crypto tokens to work through its MAVAN platform. This system allows the company to participate in staking, which helps secure the network in exchange for rewards. Currently, the company has 3.33 million Ether staked, which brings in more than $200 million in revenue every year.
This “Made in America” validator network is built for large institutions that want high-performance and safety. The company can earn a steady profit regardless of where the token price goes in the short term through the operation of its own staking system.
Analyst Predicts Huge Upside as Bitmine Uplists to the NYSE
Bitmine’s move to a larger stock exchange comes as leadership makes ambitious predictions about the future value of the network.
Bitmine recently moved its stock listing to the New York Stock Exchange (ICE), which helps it reach more investors and expand its share buyback program. During a recent event in Paris, Tom Lee shared an extremely bullish view, suggesting that Ether could eventually climb above $60,000 over the next few years.
While the ETH coins are currently valued at about $2,301 each, the company is getting ready to be the main winner if that price target ever hits. With over $1 billion in cash still in the bank, the company has plenty of power to keep buying until it hits its 5% target.
Is Bitmine Stock a Good Buy?
Turning to TipRanks, BMNR stock has a Moderate Buy consensus rating based on one Buy rating from an analyst assigned in the last three months. The average 12-month BMNR price target sits at $33, implying an upside potential of 51.2%.
