Bitmine Immersion Technologies has made its largest weekly Ether purchase of 2026, acquiring 71,179 ETH worth approximately $147 million. This marks a significant increase from the company’s recent weekly average spending. Over the past four weeks, Bitmine has purchased a total of 238,244 Ether, signaling a strong bet on Ethereum’s potential despite ongoing market volatility.
Bitmine Immersion Technologies has executed its single-largest weekly Ether acquisition of 2026. The purchase of 71,179 Ether was valued at approximately $147 million, a notable rise from its recent weekly spending average.
This transaction extends Bitmine’s buying streak into a fifth consecutive week. The company has now acquired 238,244 Ether over the past four weeks.
Bitmine Chairman Tom Lee stated the company views Ethereum as being in the final stages of a ‘mini-crypto winter’. The accelerated purchasing pace is aligned with this strategic base case.
Crypto markets have experienced continuous fluctuations since a sharp decline in October. Indicators suggest institutional investor interest may be tapering off.
Lee suggested crypto markets could improve if risks in oil markets decline. “The level of negative correlation of crypto and stocks to oil has been rising and is currently at the peak level of the past year,” he said in a statement.
According to data from Strategic ETH Reserve monitoring 67 large entities, Bitmine holds the largest Ether treasury by a significant margin. SharpLink Gaming and Ether Machine follow with 863,000 and 496,000 Ether, respectively.
Of the top three treasury holders, Bitmine is the only one to have publicly disclosed Ether purchases this year. The company’s bold move highlights its confidence in the Ethereum market.
