Bitmine Immersion Technologies (BMNR) recently made its largest Ethereum purchase since December, bringing its total holdings to 4.976 million ETH. This gives Bitmine control of over 4.21% of all Ethereum in circulation, positioning the company as a major player in providing liquidity for both advanced AI systems and digital versions of traditional Wall Street investments, the company announced.
According to Tom Lee, leader of Bitmine, public blockchains will be crucial for AI programs that operate independently by 2026. These AI agents need fair and open payment systems, and Bitmine controls a substantial amount of the computing power they’ll rely on – currently 4.21% of all ETH.
Why Tom Lee calls Ethereum “best wartime defensive asset”
In the last week, Bitmine bought over 101,000 ETH, the most it’s purchased in four months. The company has now deployed 3.33 million ETH – valued at $7.7 billion of a total $12.9 billion – using its own MAVAN platform. This activity has established Bitmine as the world’s largest institutional validator, helping to keep the Ethereum network secure.
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There are increasing indications that the recent downturn in the crypto market is easing. With the threat of conflict between the US and Iran decreasing, Ethereum (ETH) has increased by 41% since its lowest point in early February. Since the start of the conflict, ETH has also performed significantly better than the S&P 500, exceeding its returns by 22.8 percentage points and continuing to show strength.
— Bitmine (NYSE-BMNR) $ETH (@BitMNR) April 20, 2026
Even though many predicted a downturn, Tom Lee points out that Ethereum has shown surprising strength. It’s increased 41% since its February low, significantly surpassing the performance of the S&P 500. Lee believes that, given current global uncertainty, Ethereum has effectively become a safe haven asset, increasingly used as digital collateral in new financial products.
Michael Saylor’s MicroStrategy has essentially treated Bitcoin like a $62 billion digital gold reserve. Meanwhile, Tom Lee believes Ethereum will be actively used – not just held as an investment – but will power financial applications on Wall Street, acting as a kind of ‘computational fuel.’
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2026-04-20 18:47