Bitmine Invests Over $230 Million in Ether, Marks Largest Weekly Acquisition of 2026

BitMine Immersion Technologies, a prominent Ethereum-focused digital asset treasury, has intensified its crypto purchasing pace, according to Chairman Tom Lee, who believes the crypto 'mini-winter' is nearing its end. The company announced the acquisition of 101,627 ether, valued at over $230 million, marking its largest weekly purchase since December 15. This substantial investment has boosted BitMine's total ETH holdings to 4.97 million. Notably, while other digital asset treasury firms have slowed down or ceased their buying activities, BitMine remains a significant buyer of ether, providing consistent demand for the cryptocurrency. The company's total holdings, including crypto and cash, now amount to $12.9 billion, comprising 199 bitcoin, $1.12 billion in cash, and equity stakes in various companies, such as Beast Industries and Eightco Holdings. Lee expressed optimism about the crypto market, citing signs that the recent downturn in crypto prices is coming to an end, with ETH rebounding and exhibiting positive market dynamics. '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 significant surge from its early February lows and its outperformance of equities since the onset of the Iran conflict, driven by demand related to tokenization and AI applications. Furthermore, BitMine has continued to expand its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.