BitMine Immersion Technologies (BMNR), the largest corporate holder of Ethereum (ETH) worldwide, announced on Monday that it has made a significant new purchase of approximately 61,000 ETH.
BitMine has 3.7% of Ethereum’s total supply
BitMine’s latest transaction of 60,976 Ethereum tokens is the company’s largest weekly purchase of tokens in 2026. After this purchase BitMine total ETH shares reached 4.5 million tokens.
Notably, BitMine now holds approximately 3.76% of Ethereum’s total supply, and has moved more than 75% towards its ambitious goal of 5% Alchemy in eight months.
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In addition to its cryptocurrency holdings, BitMine was revealed which holds 3,040,483 ETH, worth about $6 billion based on the ETH price of $1,965 at the time of the company’s disclosure.
The company’s total assets, including cash and other cryptocurrencies, reached $10.3 billion, consisting of 4.535 million ETH tokens, $1.2 billion in cash and other cryptographic assets.
As Ethereum prices stabilize above the critical $2,000 support level, CEO Tom Lee highlighted ETH’s resilience amid bullish conditions. geopolitical tension and the increase in oil prices.
Final Stages of “Mini-Crypto Winter”
Commenting on the current market conditions, Lee expressed confidence that crypto prices are entering the final phase of what he called a “mini-crypto winter.”
The price of Ethereum showed stability this week in the face of increasing war concerns and rising oil prices. We believe that crypto prices are in the last / final stage of a small crypto winter.
Lee also noted that ETH’s price movement is following observed trends S&P 500 in the fall of 2011 and 1987. According to analyzes by BitMine consultant Tom DeMark of DeMark Analytics, these historical correlations show a correlation of up to 89% and 93% with the behavior of the S&P 500 during these periods.
The analyst also predicts that Ethereum prices will likely reach their lowest point between March 8 and 14, possibly falling slightly below the recent high of $1,740. This could equate to a reduction of around 14% from current trading prices.
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Lee also added that BitMine’s strategy includes slightly increasing its speed Collection of ETHincreasing its recent buying activity from an average of 45,000 to 50,000 ETH per week to a recent purchase of 60,976 ETH.
Ethereum rallied 4% on Monday, allowing the token to regain the $2,000 mark after briefly dipping below this key level at the end of the week. At the same time, BitMine’s stock, BMNR, also showed positive movement, trading at $20.70 per share at the time of writing, which represents a significant performance. 10% rally for the company.
Featured image from OpenArt, chart from TradingView.com
