BitMine Immersion Technologies (BMNR), the largest corporate holder of 
Ethereum (ETH) worldwide, announced on Monday that it had made a significant 
new purchase of nearly 61,000 ETH. BitMine Holds 3.7% Of Total Ethereum Supply 
BitMine&#8217;s latest transaction, comprising 60,976 Ethereum tokens, marks the 
company’s largest weekly acquisition in terms of tokens so far in 2026. 
Following this acquisition, BitMine’s total ETH holdings have risen to 4.5 
million tokens. Notably, BitMine now holds around 3.76% of the total Ethereum 
supply, positioning itself over 75% of the way toward its ambitious target 
dubbed the &#8220;Alchemy of 5%&#8221; within just eight months. Related Reading: Why A 
U.S. Court Says Binance Is Not (Yet) Liable for Terrorist Crypto Flows In 
addition to its cryptocurrency holdings, BitMine disclosed that it has 
3,040,483 ETH staked, which is valued at approximately $6 billion based on an 
ETH price of $1,965 at the time of the company’s disclosure. The firm’s total 
assets, including cash and other cryptocurrencies, have reached $10.3 billion, 
comprising 4.535 million ETH tokens, $1.2 billion in cash holdings, and 
various other crypto assets. As Ethereum prices stabilize above the crucial 
$2,000 support level, CEO Tom Lee highlighted the resilience of ETH amidst 
rising geopolitical tensions and increasing oil prices. Final Stages Of &#8216;Mini- 
Crypto Winter&#8217; Lee commented on the current market conditions, expressing 
confidence that crypto prices are entering the final stages of what he 
referred to as a &#8220;mini-crypto winter.&#8221; Ethereum prices showed resilience this 
week, in the face of rising war concerns and surging oil prices. We continue 
to believe that crypto prices are in the late/final stages of the &#8216;mini-crypto 
winter. Lee also noted that ETH price movements are tracking trends observed 
in the S&amp;P 500 during the falls of 2011 and 1987. According to analyses from 
BitMine’s advisor, Tom DeMark of DeMark Analytics, these historical 
connections show correlations of up to 89% and 93% with the S&amp;P 500’s behavior 
during those periods. The analyst also predicts that Ethereum prices are 
likely to reach their lowest point between 8 and 14 March, potentially dipping 
just below the recent low of $1,740. This could equate to a decline of around 
14% from current trading prices. Related Reading: Expert Trader Shows ‘Simple 
Math’ To Calculate The Bitcoin Price Bottom Lee also added that BitMine’s 
strategy involves slightly increasing the pace of its ETH accumulation, 
enhancing its recent buying activity from an average of 45,000 to 50,000 ETH 
per week to the latest purchase of 60,976 ETH. On Monday, Ethereum experienced 
a 4% gain, allowing the token to reclaim the $2,000 mark after a brief dip 
below that key level over the weekend. Concurrently, BitMine’s stock, BMNR, 
also showed positive movement, trading at $20.70 per share at the time of 
writing, marking a significant 10% rally for the company. Featured image from 
OpenArt, chart from TradingView.com

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