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

Bitmine Immersion Technologies, a leading Ethereum-focused digital asset treasury firm, has accelerated its cryptocurrency purchasing pace. Chairman Tom Lee expressed optimism about the crypto market, citing indications that the 'mini-winter' is coming to an end. The company announced the purchase of 101,627 ether, valued at over $230 million, representing its largest weekly acquisition since December 15. This investment brings Bitmine's total ETH holdings to 4.97 million. Notably, while other digital asset treasury companies have slowed or ceased buying, Bitmine continues to be a significant buyer of ether, providing consistent 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. Lee attributed the firm's confidence to ETH's rebound and broader market trends, stating that the 'mini-crypto winter' is nearing its end. He also highlighted ether's sharp rise from its early February lows and its outperformance of equities since the start of the Iran conflict. Furthermore, Bitmine has expanded its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.