What to know:
- BitMine Immersion Technologies bought 71,179 ether last week, making its largest weekly purchase of 2026.
- The company has accelerated its ether accumulation for four consecutive weeks even as crypto prices slump, while most other large digital asset treasuries have paused or reduced their holdings.
- With Strategy ending a 13-week bitcoin buying streak, BitMine is now the only major corporate buyer of crypto at scale holding onto its weekly accumulation streak.
BitMine Immersion Technologies (BMNR) bought a record amount of Ethereum (ETH) this year, adding 71,179 ETH. This purchase continues a month-long trend of increased buying, despite ongoing price drops in the crypto market.
BitMine recently spent around $143 million to buy more Ethereum, bringing its total holdings to over 4.73 million ETH – about 3.92% of all Ethereum in circulation. This purchase marks the fourth week in a row that BitMine has increased its buying, a significant jump from its previous average of 45,000 to 50,000 ETH.
This action is notable because most companies with large cryptocurrency holdings stopped buying, or even sold, their tokens when the crypto market declined. MicroStrategy (MSTR), which holds the most bitcoin among corporations, was another significant buyer recently, but even they paused their purchases after 13 consecutive weeks of buying.
Bitmine Chairman Tom Lee believes the market is nearing the end of its current decline, citing factors like increasing oil prices and global political instability that are putting pressure on investments.
The company had a total of $10.7 billion in crypto and cash. This included its Ethereum holdings, 197 Bitcoin, and $961 million in cash and investments, with $102 million of that held in Eightco Holdings.
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2026-03-30 17:55