Bitmine Stock Slips as Tom Lee Says ‘ETH Beating Gold’ Shows Us Its ‘The Wartime Store of Value’
The world’s largest corporate treasury of Ethereum (ETH-USD) is aggressively expanding its lead. On Monday, April 13, 2026, Bitmine Immersion Technologies (BMNR) revealed that its holdings have reached 4.87 million ether, worth approximately $10.7 billion. In today’s release, Chairman Tom Lee stated, “We believe ETH beating gold by 2,743 basis points demonstrates ETH is the wartime store of value.”
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Lee added that while the war exerts a massive influence on global risk markets, Ethereum’s ability to rise on an absolute basis is a great harbinger for future growth. Despite the massive accumulation, shares of Bitmine slipped 2.25% in pre-market trading as the price of ether dipped to $2,199 over the weekend.
Staking Generates $212 Million in Yearly Revenue
Bitmine is actively putting its ETH tokens to work. The company has already staked 3.33 million ether, which represents about 68% of its total holdings.
This staking strategy now generates $212 million in annualized revenue. Lee noted that “annualized staking revenues are now $212 million,” providing a massive stream of cash as the company navigates what he describes as the “final stages of the mini-crypto winter.” The company’s newly launched platform, MAVAN, is designed to eventually serve other institutional investors who want to earn similar rewards.
Bitmine’s Large Accumulation Approaches the 5% Target
This latest purchase puts the company 81% of the way toward its goal of owning 5% of the entire global supply. The company bought 71,524 ETH last week alone, maintaining an elevated purchase pace for the fourth week in a row.
According to the report, Bitmine currently holds 4.04% of all ether in existence. This makes it the largest corporate ether treasury in the world and the second-largest crypto treasury overall, sitting just behind Strategy and its stash of 766,970 BTC.
Agentic AI Systems Drive Future Demand
The company’s total holdings, which include cash and equity moonshots, now stand at $11.8 billion. Bitmine has attracted a heavy-hitting group of investors, including ARK’s Cathie Wood and Pantera.
Lee believes that two main forces will continue to drive Ethereum higher: “Wall Street tokenizing on the blockchain” and “agentic AI systems increasingly needing public and neutral blockchains.”
Is Bitmine Stock a Good Buy?
Turning to TipRanks, BMNR stock has a Moderate Buy consensus rating based on one Buy rating from an analyst assigned in the last three months. The average 12-month BMNR price target sits at $33, implying an upside potential of 57.9%.
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