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 intensified its cryptocurrency purchasing pace, according to Chairman Tom Lee, who believes the crypto 'mini-winter' is nearing its end. The company announced the purchase of 101,627 ether, valued at over $230 million, marking its largest weekly acquisition since December 15. This significant investment brings BitMine's total Ethereum holdings to 4.97 million. Notably, while most digital asset treasury companies have slowed or ceased their buying activities, BitMine remains a prominent buyer of ether, providing sustained demand for the cryptocurrency. The firm's total holdings, including cryptocurrency and cash, now amount to $12.9 billion, comprising 199 bitcoin, $1.12 billion in cash, and equity stakes in various companies, such as Beast Industries and Eightco Holdings. Lee attributes the firm's confidence to signs of an impending market rebound, citing Ethereum's recent resurgence and broader market trends. 'We have maintained an increased pace of ETH purchases over the past four weeks, as we believe ether is nearing the end of the 'mini-crypto winter',' Lee stated. Furthermore, he highlighted ether's notable recovery from its early February lows and its outperformance of equities since the onset of the Iran conflict, driven by growing demand related to tokenization and AI applications. In addition to its purchasing activities, BitMine has expanded its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.