Bitmine Crosses 4.97M ETH as SuperTrend Turns Bullish



 Bitmine Immersion Technologies has quietly become one of the most aggressive institutional buyers in crypto right now. The company — listed on the NYSE as BMNR and chaired by Tom Lee of Fundstrat — just confirmed it holds 4,976,485 ETH as of April 20, 2026. That is 4.12% of the entire Ethereum supply sitting in one corporate treasury.

The latest weekly buy was 101,627 ETH. At current prices, that is over $230 million spent in a single week. Tom Lee called it the highest purchase pace since mid-December 2025, a period when most other digital asset companies were pulling back or staying flat. Bitmine kept buying.

What makes this moment different from prior updates is not just the number. ETH's SuperTrend indicator, a technical signal traders use to track trend direction, has flipped bullish for the first time in more than a year. That kind of technical shift, arriving exactly when Bitmine is recording its heaviest weekly accumulation of 2026, is the kind of convergence that tends to get attention in crypto markets.

Of the 4.97 million ETH held, 3,334,637 are actively staked through MAVAN, Bitmine's own institutional validator platform. That staking generates around $221 million per year in revenue at current yield rates. The company projects that figure could reach $330 million annually at full scale. It is a recurring income stream that most crypto treasury companies simply do not have.

Lee also made a broader point about the macro cycle. He argued that every major crypto winter since 2015 has coincided with an equity drawdown of at least 20%, and that the 2025 drawdown tracked closely with the S&P 500's own 20% decline. His read is that the crypto winter is closer to ending than most currently believe.

Total assets across crypto, cash, and investments now sit at approximately $12.9 billion. Bitmine ranks as the number two global crypto treasury behind Strategy Inc., which holds over 780,000 BTC.

For the full breakdown of Bitmine's holdings, staking revenue projections, and what the SuperTrend flip means for Ethereum's next move, read the full report at CryptoNewsLive.org.

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