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Bitmine completes largest ether acquisition in 2026 as other cryptocurrency reserves decrease.
Tom Lee’s Ethereum treasury has acquired over 71,000 ETH in the past week, remaining the only significant corporate crypto purchaser as Strategy concluded its 13-week bitcoin buying streak.
Thomas Lee, chairman of BitMine and CIO of Fundstrat, on the main stage during Consensus Hong Kong 2026 (CoinDesk)
What to know:
- BitMine Immersion Technologies purchased 71,179 ether last week, marking its largest weekly acquisition of 2026.
- The firm has intensified its ether gathering for four consecutive weeks despite a decline in crypto values, while many other large digital asset treasuries have paused or reduced their holdings.
- With Strategy’s 13-week bitcoin purchasing streak coming to an end, BitMine is currently the only major corporate crypto buyer maintaining its weekly accumulation trend.
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BitMine Immersion Technologies (BMNR) executed its most significant weekly acquisition of ether (ETH) this year, obtaining 71,179 ETH and extending a month-long increase in purchasing even as crypto values face pressure.
This acquisition, valued at approximately $143 million at prevailing prices, raised the company’s total holdings to over 4.73 million ETH, representing about 3.92% of the token’s overall supply, as per a recent update. BitMine has now increased its purchasing rate for four consecutive weeks, rising from an earlier average of 45,000 to 50,000 ETH.
This action is notable as most other large digital asset treasuries (DAT) have either halted their crypto accumulation or even sold tokens amid the downturn in the crypto market. Strategy (MSTR), the largest corporate bitcoin owner was the only other significant buyer in recent months, and even the company led by Michael Sayler paused, ending a 13-week buying streak.
Bitmine Chairman Thomas “Tom” Lee indicated that the firm perceives the current market as the concluding phase of a downturn, with escalating oil prices and geopolitical issues maintaining pressure on risk assets.
The company’s total crypto and cash assets amounted to $10.7 billion. Alongside its ETH holdings, BitMine also possessed 197 bitcoin and $961 million in cash and equity positions, which included $102 million in Eightco Holdings.
