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

BitMine Immersion Technologies, a leading Ethereum-focused digital asset treasury firm, has intensified its cryptocurrency purchasing pace, according to Chairman Tom Lee, who believes the crypto 'mini-winter' is coming to an end. The company announced the acquisition of 101,627 ether (ETH) last week, its largest weekly purchase since December 15, valued at over $230 million at current prices, bringing its total ETH holdings to 4.97 million. This move comes at a time when most digital asset treasury companies, with the exception of Michael Saylor's bitcoin-focused Strategy, have slowed down or ceased 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 stand at $12.9 billion, comprising 199 bitcoin, $1.12 billion in cash, and equity stakes in companies such as Beast Industries and Eightco Holdings. According to Lee, the firm is witnessing signs that the recent decline in crypto 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 suggests that ETH is in the final stages of the 'mini-crypto winter',' Lee stated. He further added that ether has seen a significant rise 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 uses. Additionally, BitMine has continued to expand its staking operations, with over 3.3 million ETH staked, equivalent to approximately two-thirds of its holdings, generating around $221 million in annualized revenue.