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

BitMine Immersion Technologies, a leading Ethereum-focused digital asset treasury firm, has intensified its cryptocurrency purchasing pace. According to Chairman Tom Lee, the company sees increasing indications that the cryptocurrency 'mini-winter' is coming to an end. The firm announced on Monday the purchase of 101,627 ether (ETH) last week, its largest weekly acquisition since December 15. Valued at over $230 million at current prices, this purchase has increased BitMine's total ETH holdings to 4.97 million. This move occurs at a time when most digital asset treasury companies, with the exception of Michael Saylor's bitcoin-focused Strategy, have slowed or halted their buying activities. As a result, BitMine remains one of the primary large-scale buyers of ether, providing a consistent source of demand for ETH. The company's total crypto and cash holdings now amount to $12.9 billion, which includes 199 bitcoin, $1.12 billion in cash, and equity stakes in companies such as Beast Industries and Eightco Holdings. Lee stated that the company believes the recent decline in cryptocurrency prices is nearing its end, citing ETH's rebound and broader market trends. 'Bitmine has maintained an increased pace of ETH purchases over the past four weeks, as our base case is that ETH is in the final stages of the 'mini-crypto winter',' Lee explained. He further noted that ether has experienced a sharp increase from its early February lows and has outperformed equities since the start of the Iran conflict on February 28, driven by demand related to tokenization and AI-related applications. Additionally, BitMine has continued to expand its staking operations, with over 3.3 million ETH staked, which is approximately two-thirds of its holdings, generating around $221 million in annualized revenue.