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 purchase pace, with Chairman Tom Lee citing growing evidence that the crypto 'mini-winter' is drawing to a close. The company announced on Monday that it had purchased 101,627 ether (ETH) the previous week, its largest weekly acquisition since December 15. This purchase, valued at over $230 million at current prices, has increased BitMine's total ETH holdings to 4.97 million. This move stands out as most digital asset treasury firms, excluding Michael Saylor's bitcoin-focused Strategy, have either reduced or ceased their buying activities. Consequently, BitMine remains a prominent large-scale buyer of ether, providing consistent demand for ETH. The company's total crypto and cash reserves now amount to $12.9 billion, comprising 199 bitcoin, $1.12 billion in cash, and equity stakes in various companies, including Beast Industries and Eightco Holdings. According to Lee, the firm believes that the recent decline in crypto prices is nearing its end, pointing to ETH's rebound and broader market trends. 'Bitmine has sustained an increased pace of ETH purchases over the past four weeks, as our forecast suggests that ETH is in the final stages of the 'mini-crypto winter',' Lee stated. Furthermore, he noted that ether has experienced a significant surge from its early February lows and has outperformed equities since the onset of the Iran conflict on February 28, driven by demand related to tokenization and AI-related applications. Additionally, BitMine has continued to expand its staking operations, with over 3.3 million ETH staked, approximately two-thirds of its holdings, generating around $221 million in annualized revenue.