Bitmine Buys 71,179 Ether, Holdings Hit 4.7 Million

Bitmine Immersion Technologies, a leading corporate holder of Ethereum, continued its aggressive accumulation strategy this week by purchasing an additional 71,179 Ether, valued at approximately 147 million, marking its largest weekly acquisition in 2026. The move, disclosed in a company statement on Monday, extends a five-week buying streak that has seen the firm add over 309,000 Ether to its treasury amid ongoing cryptocurrency market volatility.

The purchase brings Bitmine's total Ethereum holdings to roughly 4.7 million tokens, representing nearly 4 percent of the cryptocurrency's circulating supply. The company, led by Executive Chairman Tom Lee, has aimed to acquire 5 percent of Ethereum's supply as part of a broader treasury diversification effort. Prior filings with the U.S. Securities and Exchange Commission show holdings surpassing 4.3 million Ether as of early February, with subsequent weekly buys including 40,613 Ether and around 40,000 to 45,000 Ether in recent transactions tracked via on-chain data from platforms like Arkham Intelligence.

Lee described the strategy as capitalizing on a market pullback, with Ethereum down 62 percent from its 2025 highs. "We view...