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, there are increasing indications that the crypto 'mini-winter' is drawing to a close. The company announced the purchase of 101,627 ether (ETH) last week, valued at over $230 million at current prices, marking its largest weekly acquisition since December 15. This purchase has boosted BitMine's total ETH holdings to 4.97 million. Notably, while most digital asset treasury firms have slowed or ceased buying, BitMine remains a significant buyer of ether, providing a steady demand source for ETH. The firm's total 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. Lee expressed optimism about the crypto market, citing ETH's rebound and broader market trends as signs that the recent price drop is nearing its end. 'Bitmine has maintained an increased pace of ETH purchases over the past four weeks, as our base case is that ETH is in the final stages of the 'mini-crypto winter',' Lee stated. He further noted that ether has seen a sharp 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 applications. Additionally, BitMine has continued to expand its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.