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 firm, has accelerated its cryptocurrency purchase pace, with Chairman Tom Lee noting that the crypto 'mini-winter' is likely coming to an end. The company announced on Monday that it had purchased 101,627 ether, its largest weekly acquisition since December 15, valued at over $230 million at current prices, bringing its total holdings to 4.97 million ETH. This move comes as most digital asset treasury companies, with the exception of Michael Saylor's bitcoin-focused Strategy, have slowed down or halted their buying activities. As a result, BitMine remains one of the last major buyers of ether, providing a consistent source of demand for ETH. The company's total crypto and cash holdings now amount to $12.9 billion, which includes 199 bitcoin, $1.12 billion in cash, and equity stakes in companies such as Beast Industries and Eightco Holdings. Lee stated that the firm believes the recent decline in crypto prices is nearing its end, citing ETH's rebound and broader market trends. '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 said. He also mentioned that ether has seen a significant 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 uses. Additionally, BitMine has continued to expand its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.