Bitmine Immersion Technologies Builds Ethereum Treasury With 35 Million ETH Deposited Via Galaxy Digital

Bitmine Immersion Technologies has continued to build its Ethereum treasury through a sequence of large deposits and purchases that multiple crypto outlets tie to its longer-term staking strategy.

“Bitmine Immersion Technologies (BMNR) confirms its aggressive strategy by securing 72”

Actufinance

The Coin Republic says Galaxy Digital’s OTC wallet deposited 15.000 ETH “en Binance, Bybit y OKX” in rapid succession on 27 de abril, and that the ETH price “cotizó por debajo de los 2.300 $” during the move, while noting that “Bitmine también informó de una compra semanal que elevó su tesorería de éter por encima de los 5 millones de tokens.”

Actufinance

It also reports that the 35 millones de ETH figure is linked to Bitmine’s broader accumulation narrative, with the deposit split across three exchanges as “Binance recibió 7.500 ETH,” “Bybit recibió 4.250 ETH,” and “OKX recibió 3.250 ETH.”

PR Newswire, meanwhile, frames Bitmine’s position in corporate terms, stating that Bitmine announced that its ETH holdings reached “4.803 millones de tokens” and that its total crypto and cash “asciende a 11.400 millones de dólares.”

The same PR release adds that Bitmine has “3.334.637 ETH en staking” and that the company has “recibido la aprobación para cotizar en la Bolsa de Nueva York (NYSE) desde la NYSE American,” with effect “a partir de la apertura de la sesión del 9 de abril de 2026.”

Across the coverage, Tom Lee is repeatedly positioned as the driving voice behind the accumulation plan, with PR Newswire quoting him about ETH’s market performance and Bitmine’s purchase pace.

The reporting ties Bitmine’s accumulation to staking mechanics and explicit ownership targets for Ethereum supply.

PR Newswire says Bitmine “posee ahora el 3,98% del suministro total de tokens ETH, superando el 79% del objetivo del 5% en tan solo 9 meses,” and it specifies that Bitmine’s holdings include “4.803.334 ETH a 2.123 dólares por ETH” as of “5 de abril de 2026 a las 20:30 (ET).”

AMBCrypto

It also states that Bitmine’s staking platform is MAVAN, describing “MAVAN (Made in America VAlidator Network) es la principal plataforma de staking de Ethereum para BMNR e inversores institucionales,” and it says the company has “198 Bitcoin (BTC)” plus “864 millones de dólares en efectivo.”

The Coin Republic adds more detail about how Bitmine’s ETH is deployed, saying “Bitmine dijo que estaca unos 3,7 millones de ETH, o aproximadamente el 73% de sus participaciones, a través de su plataforma validadora MAVAN,” and it describes staking as part of “su estrategia de tesorería, junto con la compra semanal.”

AMBCrypto similarly frames the staking share as a plan in motion, stating that Bitmine “ha avanzado su Ethereum staking plan con 77.2% de su overall ETH holdings ahora bloqueado para yield” and that it staked “3.92 million ETH (worth $8.97 billion).”

The Crypto Times gives a different staking snapshot, saying wallets tied to Bitmine deposited “162,088 ETH—worth aproximadamente $366 million—into Coinbase Prime staking contracts,” pushing total staked holdings to “4,194,029 ETH.”

Several outlets connect Bitmine’s purchases to broader market conditions, including references to unrealized losses and the way ETH trades around key levels.

“South Korean retailer continues to buy BitMine Ether treasury despite an 80% drop: Report The company's pivot toward building an Ether treasury has triggered a 3,000% surge, drawing the attention of high‑risk investors”

CoinDesk

The Coin Republic says that “ETH se remonta a una retirada de 38.000 ETH de Aave aproximadamente una semana antes,” and it describes how “Los operadores suelen interpretar los grandes depósitos en bolsa como una posible trampa para vender,” while adding that “Todavía no hay confirmación pública de que los flujos reflejen una retirada forzosa.”

TradingView’s Crypto Biz segment frames the same corporate behavior as a contrast between narratives, stating that “BitMine is doing the exact opposite, pouring billions deeper into Ether (ETH) even as losses mount,” and it cites “more than $6.5 billion in unrealized losses” alongside an average acquisition price of “$2,248.55” versus “the average $3,621.34.”

Cointelegraph repeats the same structure, saying BitMine’s latest purchase brings total investment to “roughly $17.6 billion” and that the drawdown reflects Ether trading “well below BitMine’s average acquisition price, $2,248.55 at last look versus the average $3,621.34.”

The Coin Republic also notes that “ETH cotizó en torno a los 2.300 $ tras las oscilaciones de principios de la semana,” and it says “La volatilidad sigue siendo elevada,” with operators watching “el volumen al contado y las tasas de financiación.”

AMBCrypto adds a technical-market angle by citing Coinbase analysts and describing a “great setup,” including that “Speculators (short-term holders dropped 38% in Q1) were flushed out while long-term holders increased exposure.”

Beyond Bitmine’s internal staking, the sources describe how institutional participation and exchange flows are used to interpret the significance of large ETH movements.

PR Newswire lists a broad set of supporters, including “Cathie Wood de ARK, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital y el inversor particular Thomas "Tom" Lee,” and it ties those backers to the company’s “objetivo de adquirir el 5% de ETH.”

Coinspeaker

The Coin Republic similarly explains how “Los operadores observarán si Binance, Bybit y OKX muestran salidas netas o un aumento de las reservas,” and it says “La señal clave ahora es lo que ocurre después del depósito,” specifically that if “el ETHsale rápidamente de las bolsas, el riesgo de venta se desvanece.”

TradingView’s Crypto Biz adds a different but related market-structure lens by discussing stablecoin flows and collateral, stating that “Stablecoin transfer activity fell sharply over the past month, with total volume dropping 19% to about $8.3 trillion,” while also noting that “Tokenized Treasurys are now being used as collateral on exchanges.”

It then describes OKX’s integration with BlackRock’s tokenized Treasurys fund BUIDL, saying “OKX has added BlackRock’s tokenized US Treasurys fund, BUIDL, to its platform, allowing institutional clients to use the asset as trading collateral.”

Cointelegraph also discusses OKX and Standard Chartered, saying the framework allows the fund “to be posted as margin while remaining in regulated custody with the bank,” and it describes a structure where “the collateral stays off-exchange under Standard Chartered’s custody, while OKX mirrors it for trading.”

The sources portray the next phase of Bitmine’s strategy as a continuation of accumulation and staking, with multiple outlets pointing to the company’s “5%” ambition and to how its actions could be read by markets.

“Tom Lee’s BitMine added another 101,000 ETH to its balance sheet, doubling down on its accumulation strategy even as its existing holdings remain deeply underwater”

Cointelegraph

PR Newswire says Bitmine’s plan is to reach “el objetivo de adquirir el 5% de ETH,” and it emphasizes that the company has already “superando el 79% del objetivo del 5% en tan solo 9 meses,” while also stating that its ordinary shares will shift listings from “NYSE American” to “NYSE” with “comenzarán a cotizar en la NYSE a partir de la apertura del mercado el 9 de abril de 2026.”

Cointelegraph

The Coin Republic frames the immediate market focus as post-deposit behavior, stating that “La señal clave ahora es lo que ocurre después del depósito,” and it adds that “Si el ETHsale rápidamente de las bolsas, el riesgo de venta se desvanece.”

The Crypto Times describes the staking ramp-up as ongoing, noting that Bitmine’s “total staked holdings” reached “4,194,029 ETH” after the Coinbase Prime staking deposit and that the company’s reported holdings were “5,078,386 ETH, or roughly 4.21% of circulating supply.”

AMBCrypto adds that Bitmine’s staking plan is progressing toward a “6 million ETH” milestone, saying it is “close to hitting its goal of 6 million ETH,” and it ties that to projected annualized yield, including “projected that staking its entire stash would generate $363 million annually.”

Meanwhile, The Coin Republic and other market-focused pieces keep attention on volatility and on whether large holders’ actions translate into sell pressure, with The Coin Republic warning that “Aun así, un depósito por sí solo no demuestra la solidez de un plan.”