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

BitMine Immersion Technologies, a leading digital asset treasury firm focused on Ethereum, has ramped up its cryptocurrency purchasing pace. According to Chairman Tom Lee, there are increasing indications that the cryptocurrency 'mini-winter' is coming to an end. On Monday, the firm announced the purchase of 101,627 ether (ETH) during the previous week, marking its largest weekly acquisition since December 15. With a value of over $230 million at current prices, this purchase has raised 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 company Strategy, have either slowed down or halted their purchasing activities. As a result, BitMine remains one of the few 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. In addition to its ETH treasury, BitMine holds 199 bitcoin, $1.12 billion in cash, and equity stakes in various companies, including investments in Beast Industries and Eightco Holdings. According to Lee, the company believes that the recent decline in crypto prices is nearing its end, citing the rebound of ETH and broader market trends. "Bitmine has maintained an increased pace of ETH purchases over the past four weeks, as our forecast suggests that ETH is in the final stages of the 'mini-crypto winter,'" Lee stated. He further added that ether has experienced a significant surge 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. Furthermore, BitMine has continued to expand its staking operations, having staked over 3.3 million ETH, which accounts for approximately two-thirds of its holdings, and generating around $221 million in annualized revenue.