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BitMine Buys $240 Million in Ethereum as Tom Lee Heralds Arrival of 'Crypto Spring'
TL;DR
BitMine Immersion Technologies has purchased over 100,000 ETH for the third consecutive week, totaling more than $240 million. The company now holds over $11.2 billion in Ethereum, making it the largest holder of the cryptocurrency.
Key points
- BitMine bought over 100K ETH for the third straight week
- The company holds over $11.2 billion in Ethereum
- Tom Lee believes a 'Crypto Spring' has begun
- ETH is up 15% in the last month
- BitMine's total ETH stash is over 5.18 million
Mentioned in this story
BitMine Immersion TechnologiesTom Lee
In brief
- BitMine Immersion Technologies bought more than 100K ETH for the third straight week.
- The company holds over $11.2 billion in Ethereum, making it the largest holder of the coin.
- BitMine Chairman Tom Lee said he believes a "Crypto Spring" has begun; ETH is up 15% in the last month.
Top Ethereum treasury firm BitMine Immersion Technologies just revealed its third straight weekly buy of more than 100,000 ETH, extending its buying streak as the second-largest cryptocurrency by market cap shows a 15% rise in the last month.
BitMine purchased 101,745 ETH over the last week, following previous weekly buys of 101,901 ETH and 101,627 ETH—the former being the firm's largest haul so far in 2026. At Ethereum's recent trading price of $2,365, that makes its latest weekly purchase worth more than $240 million.
All told, the publicly traded firm has accumulated over 5.18 million, with its stash currently valued at $12.2 billion. The company also holds 200 Bitcoin valued around $16 million, and has $700 million in cash on-hand.
BitMine (BMNR) shares are up more than 4% on the day, recently trading at $22.91. Shares are up nearly 18% in the last month, but have fallen more than 15% since the start of the year.
The weekly purchase tally includes 10,000 ETH purchased directly from the Ethereum Foundation in an over-the-counter sale announced Friday at an average price of $2,292 per coin. It was the second straight weekly purchase of 10,000 ETH from the Foundation, with the sales funding the Ethereum backer's operations, community grants, and other endeavors.
"Crypto Spring, in our view, has commenced and like past cycles, investor sentiment and conviction are muted and bearish even as crypto prices strengthen," said BitMine Chairman Tom Lee, in a statement. "We believe the potential passage, or even failure, of the CLARITY Act confirms the arrival of crypto spring. As for the upcoming drivers of crypto gains, Ethereum continues to benefit from the dual tailwinds of Wall Street tokenizing on the blockchain and from agentic AI systems increasingly needing public and neutral blockchains."
(Disclaimer: Lee is an investor in Dastan, parent company of an editorially independent .)
Q&A
How much Ethereum did BitMine buy recently?
BitMine bought 101,745 ETH in its latest purchase, marking its third consecutive week of buying over 100,000 ETH.
What is the total value of BitMine's Ethereum holdings?
BitMine's Ethereum holdings are valued at over $12.2 billion, making it the largest holder of ETH.
What does Tom Lee mean by 'Crypto Spring'?
Tom Lee believes that a 'Crypto Spring' has begun, indicating a positive trend for cryptocurrencies, as Ethereum has risen 15% in the last month.
