Bitmine Acquires 101,627 Ether Valued at Over $230 Million, Marking Its Largest Weekly Purchase 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 acquisition of 101,627 ether, valued at over $230 million, representing its largest weekly purchase since December 15. This move brings BitMine's total ETH holdings to 4.97 million. Notably, while most digital asset treasury companies have reduced or ceased their buying activities, BitMine remains a significant buyer of ether, providing consistent demand. The firm's total holdings, including crypto and cash, now amount to $12.9 billion, comprising 199 bitcoin, $1.12 billion in cash, and equity stakes in various companies. Lee expressed optimism about the crypto market, citing the rebound of ETH and broader market trends. 'We have maintained an increased pace of ETH purchases over the past four weeks, as we believe ETH is in the final stages of the 'mini-crypto winter',' Lee stated. He also highlighted ether's sharp rise from its early February lows and its outperformance of equities since the start of the Iran conflict, driven by demand related to tokenization and AI applications. Furthermore, BitMine has expanded its staking operations, with over 3.3 million ETH staked, generating approximately $221 million in annualized revenue.