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

BitMine Immersion Technologies (BMNR), a leading Ethereum-focused digital asset treasury firm, has intensified its cryptocurrency purchase pace, with Chairman Tom Lee indicating that the crypto 'mini-winter' is nearing its end. The company announced on Monday that it had purchased 101,627 ether (ETH) the previous week, representing the largest weekly acquisition since December 15. This purchase, valued at over $230 million at current prices, has increased BitMine's total ETH holdings to 4.97 million. Notably, while most digital asset treasury companies have slowed or halted their buying activities, BitMine remains a significant buyer of ether, providing a steady source of demand for ETH. The firm's total crypto and cash holdings now amount to $12.9 billion, comprising 199 bitcoin, $1.12 billion in cash and equity stakes, including investments in Beast Industries and Eightco Holdings. Lee stated that the company sees indications that the recent decline in crypto prices is approaching 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 said. He further noted that ether has experienced a sharp 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.