Bitmine buys 71,179 Ether in largest weekly purchase of 2026

Bitmine Immersion Technologies disclosed that it purchased 71,179 Ether, about $147 million, marking a fifth consecutive weekly buy and the company’s largest weekly Ether purchase so far in 2026.

According to the company, the latest purchase raised its recent weekly average from roughly $93 million to $103 million. Earlier in March, Bitmine acquired 238,244 Ether across four purchases.

In a company statement, Lee wrote that Bitmine’s base case is that Ether is in the final stages of a ‘mini-crypto winter,’ and cited that view as a reason for continued buying.

The firm noted that crypto markets have seen volatility since a сrypto market crash in October. Bitmine said inflows to crypto exchange-traded products have slowed amid ongoing tensions in the Middle East, which have affected investor demand.

Lee also noted that the inverse correlation between oil and both equities and crypto has increased to the highest level in the past year and said the crypto downturn may ease after upward pressure on oil prices subsides.

Data from StrategicEthReserve, which tracks 67 large Ether treasuries, shows Bitmine leading that group. SharpLink Gaming holds about 863,000 Ether and Ether Machine about 496,000. Among those three, Bitmine is the only company to publicly report ETH purchases this year; SharpLink last added 3,600 Ether in December and Ether Machine last bought 1,400 in October.

A similar concentration appears in Bitcoin treasuries. Analysts at CryptoQuant reported that Strategy purchased about 45,000 Bitcoin over the past 30 days while non-Strategy firms bought roughly 1,000 BTC. Strategy’s reported holdings stood at 762,099 Bitcoin, valued at more than $51 billion as of Sunday. The company reported no Bitcoin purchases to the U.S. Securities and Exchange Commission between March 23 and March 29.

Bitmine recently launched an institutional Ethereum staking platform, adding a services business related to Ether alongside its treasury accumulation.