The company now holds more than 4.5 million $ETH , worth over $9 billion, though it is sitting on a loss of nearly $8 billion.
BitMine Immersion Technologies increased its ether purchases last week, buying 60,976 ETH.
The company now holds more than 4.5 million ETH worth over $9 billion, but sits on losses estimated at about $7.8 billion on its position.
Chairman Thomas Lee said BitMine believes crypto prices are in the late stages of a "mini-crypto winter" and is slightly increasing its buying as market signals suggest a potential bottom.
$BMT Immersion Technologies (BMNR), the largest Ethereum-focused treasury firm, purchased 60,976 ether (ETH) through last week, increasing the pace of accumulation as the firm bets crypto prices are nearing the end of what it calls a "mini winter."
The latest purchase, worth some $120 million at current prices, lifted BitMine’s ETH holdings to over 4.5 million tokens, worth more than $9 billion, according to a Monday update from the company. This was the company's largest weekly purchase in token terms in 2026 so far.
The firm has steadily added to its treasury throughout the market downturn, even as unrealized losses on its position now is estimated at around $7.8 billion, according to data from DropsTab.
Chairman Thomas Lee said the company stepped up buying from the recent weekly average of roughly 45,000 to 50,000 $ETH as market signals suggest a potential bottom may be forming.
