Bitmine Makes Largest Weekly Purchase of 2026 with $230 Million Worth of Ether

BitMine Immersion Technologies, a leading Ethereum-focused digital asset treasury firm, has accelerated its crypto acquisition, with Chairman Tom Lee citing growing indications that the crypto 'mini-winter' is coming to an end. The company announced the purchase of 101,627 ether, valued at over $230 million, marking its largest weekly acquisition since December 15. This significant investment brings BitMine's total ETH holdings to 4.97 million. Notably, while most digital asset treasury companies have slowed or ceased buying, BitMine remains a prominent buyer of ether, providing a steady source of demand. The firm's total holdings now stand at $12.9 billion, comprising 199 bitcoin, $1.12 billion in cash, and equity stakes in various companies. Lee attributes the firm's increased buying pace to signs of an impending rebound in crypto prices, citing ETH's recent surge and broader market trends. 'We have maintained an increased pace of ETH purchases over the past four weeks, as our analysis suggests that ETH is in the final stages of the 'mini-crypto winter',' Lee stated. He also highlighted ether's sharp rise from its early February lows, outperforming equities since the start of the Iran conflict, driven by demand related to tokenization and AI applications. Furthermore, BitMine has expanded its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.