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 ramped up its cryptocurrency purchasing pace, according to Chairman Tom Lee, who believes the crypto 'mini-winter' is nearing its end. The company announced the acquisition of 101,627 ether (ETH) last week, its largest weekly purchase since December 15, with a value exceeding $230 million at current prices. This significant 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 prominent buyer of ether, providing consistent demand 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 signs that the recent price downturn is nearing its conclusion. He pointed to ETH's rebound and broader market trends, stating that BitMine has maintained an increased pace of ETH purchases over the past four weeks. Lee attributed this to his belief that ETH is in the final stages of the 'mini-crypto winter.' Furthermore, he noted that ether has experienced a sharp increase 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 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.