Bitmine Invests Over $230 Million in Ether, Marking Its Largest Weekly Acquisition in 2026

BitMine Immersion Technologies, a leading Ethereum-focused digital asset treasury firm, has intensified its cryptocurrency purchasing pace, with Chairman Tom Lee anticipating 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 brings BitMine's total ETH holdings to 4.97 million. Notably, while other digital asset treasury companies have slowed or ceased their buying activities, BitMine continues to be a major buyer of ether, providing consistent demand for the cryptocurrency. The firm's total crypto and cash reserves 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 is nearing its end, as evidenced by ether's rebound and broader market trends. 'We have maintained an increased pace of ETH purchases over the past four weeks, as our primary scenario suggests that ETH is in the final stages of the 'mini-crypto winter',' Lee stated. He also highlighted ether's substantial growth from its early February lows and its outperformance of 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.