BitMine boosts Ethereum holdings to 5.078M ETH, 4.2% of total supply

BitMine Immersion Technologies has increased its Ethereum holdings to 5.078 million ETH, roughly 4.2% of total supply. The Polymarket contract for Ethereum above $1,900 on April 25 trades at 99.9% YES.

BitMine’s accumulation is part of its 2026 strategy to buy during what it calls a “mini-crypto winter.” The company’s weekly Ethereum purchases have more than doubled, now exceeding 100,000 ETH per week. Traders are watching the price impact of BitMine’s growing stake. The Ethereum price in April market reflects bullish sentiment, with contracts pricing in a significant likelihood of surpassing $4,000.

The April 25 market prices near certainty for Ethereum above $1,900. Volume sits at $93,868 in face value with $75,004 in actual USDC traded. Moving the price 5 percentage points requires $10,190, which points to solid depth on both sides of the book. The broader Ethereum price in April market is less active but still prices in further gains as institutional buying continues.

BitMine’s buying increases its staking revenue and acts as a signal of institutional commitment to Ethereum at current levels. At 99.9¢ per YES share, traders are paying for near-certain returns. That said, the market’s liquidity means any significant negative news could shift odds quickly.

Traders should watch BitMine’s next purchase disclosures and any regulatory developments affecting Ethereum. Ethereum Foundation network upgrade announcements or changes in staking yields could also move these contracts.

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