Key Highlights
- The NYSE-listed company purchased 71,524 ETH last week, lifting its holdings to 4.875 million ETH (4.04% of supply), with $11.8 billion in crypto assets and cash, and 3.33 million ETH staked via its MAVAN platform yielding ~$212 million annually, BitMine is executing its ambitious “Alchemy of 5%” strategy.
- NASDAQ-listed Bit Digital held 155,444 ETH and staked an additional ~29,900 ETH on April 13, 2026, bringing its weekly staking total to 73,234 ETH. After trimming its staked allocation in March for greater treasury maneuverability, the firm generated ~291 ETH in rewards.
- As Ethereum trades in a choppy range near $2,190 with limited upside conviction, heavy accumulation by public companies like BitMine and Bit Digital signals maturing institutional adoption.
Two NYSE- and NASDAQ-listed companies are quietly reshaping the Ethereum landscape through aggressive treasury strategies at a time when the second-largest cryptocurrency continues to trade in a narrow range.
BitMine Immersion Technologies, the NYSE-listed former Bitcoin mining operation backed by heavyweights like ARK Invest and Founders Fund, has emerged as one of the most aggressive institutional buyers of Ethereum in recent months.
Announced today on April 13, 2026, the company snapped up 71,524 ETH in its largest single-week purchase since December 2025, pushing its total holdings to approximately 4.875 million ETH—roughly 4.04% of the entire circulating supply.
This latest buying spree comes amid a broader strategic pivot. Originally focused on Bitcoin mining hardware and immersion cooling technology, BitMine has repositioned itself around a massive Ethereum treasury and its proprietary MAVAN (Made in America Validator Network) staking platform.
As of April 12, 2026, the company’s combined crypto assets and cash stood at $11.8 billion. Of that, about 3.33 million ETH are currently staked, generating an estimated $212 million in annualized staking revenue.
BitMine executives have openly discussed their “Alchemy of 5%” goal for controlling up to 5% of ETH supply through disciplined accumulation and scaled staking. With MAVAN positioned as a secure, high-performance validator solution for institutional players, BitMine aims to turn its hoard into a reliable yield engine while deepening its role in Ethereum’s proof-of-stake infrastructure.
The move echoes MicroStrategy’s Bitcoin playbook but tailored to Ethereum’s staking economics, where locked tokens not only provide yield but also bolster network security.
Bit Digital maintains steady ETH treasury
In parallel, another public company is quietly building its own Ethereum position. Bit Digital Inc. (NASDAQ: BTBT), which has shifted emphasis from Bitcoin mining toward ETH accumulation and staking, reported holding approximately 155,444 ETH as of the end of March 2026. At prevailing prices around $2,100 per ETH, that stake was valued near $327 million.
The company kept roughly 96,322 ETH—about 62% of its holdings—staked during the month, generating around 291 ETH in rewards for an annualized yield of roughly 2.9%.
In a latest move, the firm staked approximately 29,900 ETH today, on April 13, 2026, with the firm’s total staked ETH amount reaching 73,234 over the past week—as per Lookonchain data.
Notably, Bit Digital trimmed its staked allocation slightly in March to gain more flexibility for potential yield-enhancing moves or other capital allocation decisions. Its average acquisition cost sits higher, near $3,045 per ETH, meaning the position remains underwater on a mark-to-market basis but reflects a long-term conviction bet on Ethereum’s infrastructure and economics.
Bit Digital’s approach contrasts with BitMine’s sheer scale. While smaller in absolute terms, the company continues to treat ETH as core treasury infrastructure, combining direct network participation with third-party custody partnerships for security and resilience.
This steady accumulation underscores a broader trend: public companies increasingly view Ethereum not just as a speculative asset but as a productive one capable of generating protocol-level yield.
ETH faces near-term pressure
Ethereum’s price has traded in a choppy range in early April 2026, hovering near $2,190 as of publishing. The crypto slipped about 0.2% in recent sessions amid broader market caution, with daily closes fluctuating between roughly $2,180 and $2,290 over the past week.
This comes after a period of subdued performance, with ETH still well below its 2025 highs and facing resistance around the $2,300–$2,500 zone.
On-chain data shows persistent whale accumulation and reduced selling pressure from major holders like the Ethereum Foundation, which recently completed staking milestones. Moreover, institutional interest via vehicles like ETH ETFs has shown incremental inflows, though not yet at the explosive levels seen in Bitcoin products.
Additionally, staking participation continues to rise across the ecosystem, locking up supply and supporting the yield narrative that companies like BitMine and Bit Digital are leveraging.
For now, the heavy buying by listed entities provides a floor and a structural tailwind. If BitMine hits its 5% target and scales MAVAN successfully, it could further tighten available supply and spotlight Ethereum’s fundamentals.
Combined with Bit Digital’s measured approach, these corporate treasuries signal maturing institutional adoption—even as near-term price action stays range-bound.
Whether this corporate momentum can spark a sustained breakout remains the key question for ETH holders heading into the second quarter.
Also read: Alameda Moves $16 Million in Solana (SOL) as Creditor Payout Nears
