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 significant investment has boosted 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 prominent large-scale buyer of ether, providing a consistent source of demand. The firm'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. Chairman Lee expressed optimism about the crypto market, citing signs that the recent price decline is nearing its end, with ether rebounding and outperforming equities since the beginning of the Iran conflict. Lee stated, 'Bitmine has maintained an increased pace of ETH purchases over the past four weeks, as our base case indicates that ETH is in the final stages of the 'mini-crypto winter.'' The company has staked over 3.3 million ETH, generating approximately $221 million in annualized revenue, and continues to expand its staking operations.