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 increased its cryptocurrency purchase rate, with Chairman Tom Lee expressing optimism about the 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 has boosted BitMine's total ETH holdings to 4.97 million. Notably, while most digital asset treasury firms have slowed or ceased buying, BitMine remains a prominent buyer of ether, providing consistent demand. The company's total crypto and cash holdings now amount to $12.9 billion, comprising 199 bitcoin, $1.12 billion in cash, and equity stakes in various companies. According to Lee, the recent decline in crypto prices may be nearing its end, citing ETH's rebound and broader market trends. He emphasized that BitMine has maintained an increased pace of ETH purchases over the past four weeks, driven by the expectation that the 'mini-crypto winter' is nearing its conclusion. Lee highlighted ether's sharp rise from its early February lows and its outperformance of equities since the start of the Iran conflict, fueled by demand related to tokenization and AI-driven use cases. Furthermore, BitMine has continued to expand its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.