BitMine Immersion Technologies (BMNR), the world’s largest Ethereum (ETH) holding company, announced on Monday that it has made a large new purchase of nearly 61,000 ETH.
BitMine holds 3.7% of the total Ethereum supply
BitMine’s latest transaction, comprising 60,976 Ethereum tokens, marks the company’s largest weekly token acquisition so far in 2026. Following this acquisition, BitMine total ETH holdings increased to 4.5 million tokens.
Notably, BitMine now holds approximately 3.76% of Ethereum’s total supply, positioning itself over 75% of the way toward its ambitious goal dubbed “the 5% alchemy” in just eight months.
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In addition to its cryptocurrency holdings, BitMine disclosed that it holds 3,040,483 staked ETH, which is valued at approximately $6 billion based on an ETH price of $1,965 at the time of the company’s disclosure.
The company’s total assets, including cash and other cryptocurrencies, reached $10.3 billion, comprising 4.535 million ETH tokens, $1.2 billion in cash, and various other crypto assets.
As Ethereum prices stabilize above the crucial $2,000 support level, CEO Tom Lee highlighted ETH’s resilience amid a rally. geopolitical tensions and rising oil prices.
Final stages of “Mini-Crypto Winter”
Lee commented on current market conditions, expressing confidence that cryptocurrency prices are entering the final stages of what he called a “mini-cryptocurrency winter.”
Ethereum prices showed resilience this week amid growing war concerns and rising oil prices. We continue to believe that cryptocurrency prices are in the final stages of the “mini-cryptocurrency winter.”
Lee also noted that ETH price movements follow trends seen in the S&P500 during the autumns of 2011 and 1987. According to analyzes by BitMine advisor Tom DeMark of DeMark Analytics, these historical connections show correlations of up to 89% and 93% with the behavior of the S&P 500 during these periods.
The analyst also predicts that Ethereum prices will likely hit their lowest point between March 8 and 14, potentially falling just below the recent low of $1,740. This could equate to a decline of around 14% from current prices.
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Lee also added that BitMine’s strategy is to slightly accelerate the pace of its development. Accumulating ETHincreasing its recent purchasing activity from an average of 45,000-50,000 ETH per week to the last purchase of 60,976 ETH.
On Monday, Ethereum saw a 4% gain, allowing the token to reclaim the $2,000 mark after a brief dip below this key level over the weekend. Meanwhile, BitMine stock BMNR also showed positive movement, trading at $20.70 per share at the time of writing, marking a significant rise. 10% rally for the company.
Featured image from OpenArt, chart from TradingView.com
