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 citing growing indications that the crypto 'mini-winter' is drawing to a close. The company announced on Monday the acquisition of 101,627 ether, valued at over $230 million at current prices, representing its largest weekly purchase since December 15. This significant investment brings BitMine's total ETH holdings to 4.97 million. Notably, while most digital asset treasury companies have slowed or ceased buying activities, BitMine remains a prominent and consistent buyer of ether, providing a stable source of demand. 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, including Beast Industries and Eightco Holdings. According to Lee, the firm is witnessing signs that the recent downturn in crypto prices is nearing its end, pointing to ETH's rebound and broader market trends. 'Bitmine has 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 further noted that ether has experienced a sharp increase from its early February lows, outperforming equities since the start of the Iran conflict on February 28, driven by demand related to tokenization and AI applications. Additionally, BitMine has continued to expand its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.