Bitmine Acquires 101,627 Ether Valued at Over $230 Million, Marking Its Largest Weekly Acquisition in 2026

BitMine Immersion Technologies, the leading Ethereum-focused digital asset treasury, has intensified its cryptocurrency purchase pace, according to Chairman Tom Lee, who believes the crypto 'mini-winter' is nearing its end. The firm announced the purchase of 101,627 ether, valued at over $230 million, bringing its total holdings to 4.97 million ETH. This move contrasts with most digital asset treasury companies, which have slowed or halted buying, with BitMine being one of the last major buyers of ether, providing a steady demand source. The firm's total crypto and cash holdings now amount to $12.9 billion, including 199 bitcoin, $1.12 billion in cash, and equity stakes in companies like Beast Industries and Eightco Holdings. Lee stated that the recent decline in crypto prices may be ending, citing ETH's rebound and broader market trends. 'We have maintained an increased pace of ETH purchases over the past four weeks, as our base case is that ETH is in the final stages of the 'mini-crypto winter',' Lee said, adding that ether has sharply risen from its early February lows and outperformed equities since the start of the Iran conflict, driven by demand related to tokenization and AI uses. Furthermore, BitMine has expanded its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.