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, has increased the pace of its cryptocurrency purchases. According to Chairman Tom Lee, the company is witnessing growing indications that the crypto 'mini-winter' is coming to an end. On Monday, the company announced the purchase of 101,627 ether (ETH) in the previous week, its largest weekly acquisition since December 15. With a value of over $230 million at current prices, this purchase has boosted BitMine's total holdings to 4.97 million ETH. This move is notable as most other digital asset treasury firms, with the exception of Michael Saylor's bitcoin-focused Strategy, have either slowed down or halted their buying activities. BitMine remains one of the primary large-scale buyers of ether, providing a consistent source of demand for ETH. The company's total holdings of cryptocurrency and cash now stand at $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 Beast Industries and Eightco Holdings. Tom Lee stated that the company believes the recent decline in crypto prices is nearing its end, citing ETH's rebound and broader market trends. "Over the past four weeks, Bitmine has maintained an increased pace of ETH purchases, as we believe that ETH is in the final stages of the 'mini-crypto winter,'" Lee said. He further added that ether has seen a significant 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. BitMine has also continued to expand its staking operations, with over 3.3 million ETH staked, accounting for approximately two-thirds of its holdings, and generating roughly $221 million in annualized revenue.