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BitMine predicts the end of the “mini-winter” in the crypto market and increases Ethereum purchases
BitMine Immersion Technologies (BMNR), the largest company specializing in Ethereum operations, purchased 60,976 Ether ($ETH) last week, accelerating its accumulation pace amid expectations that cryptocurrency prices are approaching the end of the “mini-downturn.”
The latest purchase, worth about $120 million at current prices, increased BitMine’s $ETH holdings to more than 4.5 million tokens — worth over $9 billion. The company announced this on Monday. It represents the largest weekly purchase by the company in 2026 in terms of token quantity.
The firm has consistently increased its reserves during the market downturn, although the unrealized loss on its assets is currently estimated at around $7.8 billion, according to data from DropsTab.
Company chairman Thomas Lee said that BitMine increased its purchase volumes compared with the recent average of 45–50 thousand $ETH per week, as market signals indicate the possible formation of a price bottom.
“We still believe that cryptocurrency prices are in the late or final stage of a ‘mini-winter in the crypto industry,’” Lee said in an official statement.
“As the saying goes, no one rings a bell when the market hits bottom,” he said. “Therefore, BitMine’s strategy is to slightly accelerate the accumulation of Ether ($ETH).”
The company stated that it currently generates annual revenue of $174 million from staking more than 3 million of its Ethereum tokens.
This figure could rise to $259 million once all tokens are locked to generate yield.
