Immersion Technologies, a leading firm managing Ethereum treasury assets under BitMine, has disclosed its third consecutive weekly purchase of over 100,000 ETH. This marks the second-largest cryptocurrency’s first 15% increase in market value over the past month. The company acquired 101,745 ETH this week, adding to prior acquisitions of 101,901 ETH and 101,627 ETH, with the latter being its largest single transaction in 2026. At Ethereum’s trading price of $2,365 recently, the latest purchase exceeds $240 million.
The publicly traded company has amassed over 5.18 million ETH, valuing its holdings at approximately $12.2 billion. Additionally, it possesses 200 Bitcoin worth around $16 million and maintains $700 million in liquid assets. BitMine’s shares (BMNR) have appreciated by more than 4% today, trading recently at $22.91. They’ve risen nearly 18% over the past month yet declined by over 15% since the year’s onset.
The firm’s weekly acquisitions include 10,000 ETH purchased directly from the Ethereum Foundation via an over-the-counter deal announced last Friday, priced at an average of $2,292 per coin. This was the second consecutive purchase of 10,000 ETH from the Foundation, with proceeds supporting its operations and community grants.
“Crypto Spring has begun, in our view, much like previous cycles where investor sentiment remains subdued despite strengthening crypto prices,” stated BitMine Chairman Tom Lee. “The potential passage or even failure of the CLARITY Act signals this shift. Ethereum’s growth is propelled by Wall Street leveraging blockchain technology and agentic AI systems increasingly utilizing public blockchains.”
(Disclaimer: Lee holds investments in Dastan, which owns an editorially independent Decrypt.)
On Monday, BitMine reported staking over 4.36 million ETH, generating about $297 million annually from staking revenues. It has recently introduced the Made in America Validator Network (MAVAN).
Despite Ethereum’s price surge, BitMine faces a substantial unrealized loss of roughly $6 billion on its holdings. The company began accumulating Ethereum last summer when it reached a record high of $4,946 in August. Currently, Ethereum is down 52% from that peak.
Participants on Myriad—a prediction market managed by Dastan—have become more optimistic about Ethereum reaching $3,000 instead of $1,500, assigning a 60% probability to this scenario, a figure that has increased by over 7% in the last week.