BitMine Immersion Technologies purchased 71,179 ETH▼$1,525.15 over the past week.
This marks the company’s largest weekly Ethereum (ETH) purchase of the year.
Together with the previous four weeks, BitMine has bought more than 309,000 ETH in total. At the time of publication, the company holds approximately 4.73 million ETH, representing about 3.92% of Ethereum’s total supply.
Strategy and Comments From Tom Lee
BitMine Chairman Tom Lee explained the aggressive purchases by stating that Ethereum is in the final stage of a “mini-crypto winter.” He noted the growing inverse correlation between crypto markets and oil. He also emphasized that risk assets remain under pressure due to geopolitical tensions and high oil prices.
The company also launched its institutional staking platform, MAVAN. It has already transferred more than 3.14 million ETH to the platform.
Related: Ethereum Handles Quantum Threat Better Than Bitcoin, Analyst Argues
Situation With Other Treasuries
BitMine continues to build its position while most other large corporate holders of Ethereum and Bitcoin (BTC) have significantly reduced or completely halted purchases.
Strategy, the largest corporate holder of bitcoin, broke its 13-week buying streak. It did not acquire any BTC▼$60,058.00 during the period of March 23 to 29. Over the past 30 days, Strategy accounted for nearly all Bitcoin demand from public treasuries, buying 45,000 BTC. Other companies purchased only about 1,000 BTC combined.
Other large ETH holders — SharpLink Gaming and Ether Machine — have either significantly cut back or completely paused purchases in 2026.
