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

BitMine Immersion Technologies, a leading Ethereum-focused digital asset treasury, has ramped up its cryptocurrency purchases, with Chairman Tom Lee indicating that the crypto 'mini-winter' is nearing its end. The company announced the acquisition of 101,627 ether, valued at over $230 million, marking its largest weekly purchase since December 15. This substantial buy has boosted BitMine's total ETH holdings to 4.97 million. Notably, while most digital asset treasury firms have slowed or ceased their buying activities, BitMine remains a significant buyer of ether, providing consistent demand for the cryptocurrency. The firm's overall crypto and cash holdings now amount to $12.9 billion, comprising 199 bitcoin, $1.12 billion in cash, and equity stakes in companies such as Beast Industries and Eightco Holdings. According to Lee, the recent downturn in crypto prices is likely coming to an end, as evidenced by ETH's rebound and broader market trends. Over the past four weeks, Bitmine has consistently increased its pace of ETH purchases, driven by the belief that the 'mini-crypto winter' is in its final stages. Furthermore, ether has experienced a sharp rise from its early February lows, outperforming equities since the onset of the Iran conflict on February 28, driven by demand related to tokenization and AI applications. In addition to its purchasing activities, BitMine has continued to expand its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.