Bitmine Immersion Technologies (BMNR) has made a big splash in the crypto market by acquiring a massive 71,179 Ether in its single-largest weekly buying spree of 2026 so far. This approximately $147 million Ether acquisition denotes a rise from Bitmine’s previous weekly average spending of $93 million to $103 million, the company disclosed in a release on Monday.
BMNR has kept up their Ether buying run into the fifth week, laying down another 238,244 Ether on top of the four-week total. As per Bitmine Chairman Tom Lee, in order to keep up with the increased pace of ETH buys, they have done so each week for the past four weeks, as their base case is that ETH is in the last stages of the ‘mini-crypto winter’.
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Ever since its drastic fall in October, the crypto markets have been undergoing continuous fluctuations, and there are indications that the interest of institutional investors is tapering off. Despite this, Lee suggested that the crypto markets might brighten up if risks in oil markets decline. “The level of negative correlation of crypto and stocks to oil has been rising and is currently at the peak level of the past year, “ said Lee.
Also Read: Ethereum Foundation Stakes $46.2 Million ETH in 1 Move
Strategic ETH Reserve is monitoring the holdings of 67 big entities with Ether treasuries, and Bitmine is the one that has the largest number of tokens by a significant margin. SharpLink Gaming follows with 863,000 Ether, and Ether Machine is third with 496,000 tokens. Of the top three Ether treasury companies, Bitmine is also the only one to have publicly disclosed purchases this year.
BMNR’s bold buying move mirrors its faith in the Ethereum market. In the continuously changing crypto domain, investors can benefit by keeping an eye on market dynamics and institutional activities.
Also Read: Ethereum (ETH) Price Eyes 10% Surge Amid Fear
