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

BitMine Immersion Technologies, a prominent Ethereum-focused digital asset treasury, has accelerated its cryptocurrency purchase pace, according to Chairman Tom Lee, who believes 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 purchase brings BitMine's total Ethereum holdings to 4.97 million. Notably, while most digital asset treasury firms have slowed or ceased buying, BitMine remains a steady large-scale buyer of ether, providing a consistent demand source for ETH. 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 various companies. Lee expressed optimism about the crypto market, citing signs that the recent price drop is nearing its end, with ether rebounding and outperforming equities since the start of the Iran conflict. He attributed this growth to rising demand for tokenization and AI-related uses. Furthermore, BitMine has expanded its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.