A second major corporate player in the cryptocurrency market is emulating the buying patterns of the first. Bitmine Immersion Technologies, led by Fundstrat's Tom Lee, acquired 101,901 ether worth approximately $234 million last week, nearing the regular weekly purchases of Strategy, a digital treasury company led by Michael Saylor. This development is significant as Bitmine is now the only major corporate crypto buyer keeping pace with Strategy.
The firm's purchase was its largest weekly accumulation of 2026, marking a four-month streak of escalating buys that started at around $76 million per week in early January. Bitmine now holds over 5 million tokens, representing about 4.21% of the second-largest cryptocurrency's circulating supply.
The firm has staked roughly 73% of these tokens, generating approximately $264 million in annualized revenue from yield. Total crypto and cash holdings stood at $13.3 billion as of early April. Both firms employ similar strategies, using capital markets activity to purchase crypto assets.
Despite facing pressure in February and early March, Bitmine continued to buy, and its accumulation pace has not only held but accelerated. If this pattern persists, ether will have a corporate buyer equivalent to Strategy, absorbing supply each week regardless of price.