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

BitMine Immersion Technologies, a leading Ethereum-focused digital asset treasury, has intensified its cryptocurrency purchase pace, as Chairman Tom Lee expresses optimism about the impending end of the crypto 'mini-winter'. The company announced the acquisition of 101,627 ether, valued at over $230 million, representing its largest weekly purchase since December 15. This significant investment brings BitMine's total Ethereum holdings to 4.97 million, solidifying its position as a major player in the market. Notably, while other digital asset treasury firms have slowed or ceased their buying activities, BitMine continues to be a steady source of demand for ether. The company's total holdings 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. According to Lee, the recent downturn in crypto prices is nearing its end, citing the rebound of ether and broader market trends as indicators of this shift. 'We have maintained an increased pace of ETH purchases over the past four weeks, as our analysis suggests that ether is in the final stages of the 'mini-crypto winter',' Lee stated. He further highlighted ether's substantial growth from its early February lows and its outperformance of equities since the onset of the Iran conflict on February 28, driven by demand related to tokenization and AI applications. Additionally, BitMine has expanded its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.