By - Tom Lee’s Bitmine (BMNR) bought 71,179 ETH worth roughly $143 million in the week ending March 30, 2026, its largest single-week Bitmine ETH purchase of the year.
- Total holdings now stand at 4,732,082 ETH, equal to 3.92% of Ethereum’s entire circulating supply, with combined crypto and cash assets hitting $10.7 billion.
- Strategy broke its 13-week Bitcoin buying streak for the first time, leaving Bitmine as the only major corporate buyer actively accumulating crypto at scale.
- Bitmine’s MAVAN staking platform already generates $177 million in annualized staking revenue, with a projected $266 million once ETH holdings are fully staked.
Bitmine ETH purchase records just keep falling. In the week ending March 30, Tom Lee’s Ethereum treasury company scooped up 71,179 ETH at roughly $2,005 per token, spending about $143 million while most of the market sat frozen.
This is the fourth consecutive week Bitmine has accelerated its buying pace, and the company is now doing it alone: Strategy, the largest corporate Bitcoin holder, just ended a 13-week BTC buying streak, according to CoinDesk.
These tweets miss the point of an ethereum treasury: – BitMine is designed to track the price of $ETH – outperform over the cycle (think up ETH) – crypto is in a downturn, so naturally ETH is down $BMNR will see “unrealized” losses on our holdings of ETH during these times: –
— Thomas (Tom) Lee (@fundstrat) March 2026
Bitmine ETH purchase hits a 2026 record as bear market deepens
The crypto market’s fear index sat at 11 (extreme fear) as Bitmine pulled the trigger on this week’s buy, according to the company’s official announcement. ETH dropped 62% from its 2025 highs before this purchase. Bitmine is leaning in anyway.
The company now holds 4,732,082 ETH worth roughly $9.5 billion at current prices, with 3,142,643 of those tokens already staked through its MAVAN platform generating a 2.80% annualized yield.
📊 Bitmine now controls 3.92% of Ethereum’s entire circulating supply
The company holds 4,732,082 ETH worth $9.5 billion, with $961 million in cash reserves on top.
Strategy’s Bitcoin pause puts a spotlight on the contrast
Michael Saylor’s Strategy has historically paused Bitcoin purchases during the final week of a fiscal quarter. This week followed that pattern. Still, the optics are striking: the most vocal Bitcoin bull goes quiet right as Ethereum’s biggest buyer doubles down.
Bitmine is now the 100th most-traded U.S. stock by volume, with $920 million changing hands daily on average. That’s more liquid than most S&P 500 companies, and it says a lot about how seriously institutional traders are watching this ETH treasury play.
3/ Chairman Thomas “Tom” Lee @fundstrat states: “Ethereum prices showed resilience this week, in the face of rising war concerns and surging oil prices. We continue to believe that crypto prices are in the late/final stages of the mini-crypto winter and are tracking the base
— Bitmine (NYSE-BMNR) $ETH (@BitMNR) March 2026
MAVAN turns Bitmine’s ETH stash into a yield machine
The company’s Made in America VAlidator Network, launched March 25, 2026, is now staking 3,142,643 ETH for an annualized return of $177 million. Once Bitmine’s full position is staked, that figure is projected to hit $266 million per year, which is not bad for assets most of the market considers dead weight right now.
Tom Lee noted that ETH outperformed equities by 1,160 basis points during recent geopolitical stress, pointing to the U.S.-Iran tensions driving oil prices up. As TechToken reported, Bitcoin held $66K even as the fear gauge hit single digits after last week’s $14 billion options expiry.
TechToken Take
Bitmine is executing the most disciplined counter-cycle trade in crypto right now. Buying 71,000 ETH when the fear index is at 11 is either genius or reckless, and history says it’s usually genius. The MAVAN staking yield makes the wait tolerable: $177 million annually while sitting on a bear market is a real business, not just a treasury bet. If Lee is right about the mini-crypto winter being in its final stages, this week’s purchase will look brilliant by Q3.
What to watch as Bitmine approaches 4% of ETH supply
B. Riley’s analysts project Bitmine will hold 7.6 million ETH by year-end, which would represent about 6.3% of total supply, well above the company’s own stated goal of 5%. Every week of continued accumulation brings that closer to reality.
With Strategy paused and no other corporate buyer matching Bitmine’s pace, the next few weeks will reveal whether this ETH rally attempt has legs or whether Lee is catching a falling knife on the way to new 2026 lows. Q2 earnings from Bitmine will be the real test of how well the MAVAN staking thesis holds up under real market pressure.
What's your reaction?
