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

BitMine Immersion Technologies, a leading Ethereum-focused digital asset treasury firm, has intensified its cryptocurrency purchasing pace, according to Chairman Tom Lee, who believes that signs are emerging 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, representing its largest weekly acquisition since December 15. With a value of over $230 million at current prices, this purchase has increased 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 Strategy, have either reduced or ceased their buying activities. As a result, BitMine remains one of the few large-scale buyers of ether, providing a consistent source of demand for ETH. The total value of BitMine's cryptocurrency and cash holdings currently stands at $12.9 billion. In addition to its ETH treasury, the firm 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 firm believes that the recent decline in cryptocurrency prices is nearing 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 scenario 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 uses. BitMine has also continued to expand its staking operations, with over 3.3 million ETH, or approximately two-thirds of its holdings, staked, generating around $221 million in annualized revenue.