Bitmine Makes Largest Ethereum Purchase Of 2026 As Tom Lee Dismisses Market Selloff
Bitmine Immersion Technologies bought more than 126,971 ETH, worth about $214 million, during the latest market dip, its largest Ethereum purchase of 2026 so far. After the buy, its combined crypto and cash holdings reached about $9.6 billion, including 5,543,872 ETH, 204 BTC, stakes in Beast Industries and Eightco Holdings, and $247 million in cash. Chairman Tom Lee said the pullback reflects short-term panic rather than weakening Ethereum fundamentals and called it an early-stage “crypto spring.” Bitmine now holds about 4.59% of ETH’s total supply and aims to reach 5% in 2026. ETH itself remains weak, down about 15% over the week and trading near $1,687 after briefly hitting a one-year low around $1,505. Traders are watching $1,500 as key support; a break below it could open a move toward $1,000.
