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 firm, has intensified its cryptocurrency purchasing pace. According to Chairman Tom Lee, there are increasing indications that the crypto 'mini-winter' is coming to an end. The company announced on Monday that it had acquired 101,627 ether (ETH) the previous week, representing its largest weekly acquisition since December 15. This purchase, valued at over $230 million at current prices, has raised BitMine's total ETH holdings to 4.97 million. Notably, this move occurs at a time when most digital asset treasury companies, with the exception of Michael Saylor's bitcoin-focused Strategy, have either 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, comprising 199 bitcoin, $1.12 billion in cash, and equity stakes in various companies, including Beast Industries and Eightco Holdings. Chairman Lee expressed his optimism, stating that the firm believes the recent decline in crypto prices is nearing its end. He cited ETH's rebound and broader market trends as evidence. 'Bitmine has maintained an increased pace of ETH purchases over the past four weeks, as our base case 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. In addition to its purchasing activities, BitMine has continued to expand its staking operations, having staked over 3.3 million ETH, or approximately two-thirds of its holdings, which generates around $221 million in annualized revenue.