Bitmine Invests Over $230 Million in Ether, Marking Its Largest Weekly Acquisition in 2026

BitMine Immersion Technologies, a prominent Ethereum-focused digital asset treasury, has intensified its cryptocurrency purchasing pace. According to Chairman Tom Lee, the company is witnessing indications that the current 'mini-winter' in the crypto market is nearing its end. The firm announced the purchase of 101,627 ether, valued at over $230 million, which is its largest weekly acquisition since December 15. This significant investment has propelled BitMine's total ETH holdings to 4.97 million. Notably, while most digital asset treasury companies have slowed down or ceased their buying activities, BitMine remains a major buyer of ether, providing a consistent source of demand. The company's total holdings of cryptocurrency and cash now amount to $12.9 billion, comprising 199 bitcoin, $1.12 billion in cash, and equity stakes in various investments, including Beast Industries and Eightco Holdings. Chairman Lee expressed optimism about the crypto market, stating that the recent decline in prices may be coming to an end. He cited the rebound of ETH and broader market trends as evidence. 'We have maintained an increased pace of ETH purchases over the past four weeks, as our forecast suggests that ETH is in the final stages of the 'mini-crypto winter',' Lee stated. Furthermore, he highlighted that ether has experienced a significant surge from its early February lows and has outperformed equities since the onset of the Iran conflict on February 28, driven by demand related to tokenization and AI-related applications. Additionally, BitMine has continued to expand its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.