BitMine Accelerates Ether Purchases Amid Industry-Wide Digital Asset Treasury Slowdown
March 30, 2026 — In a standout move within the cryptocurrency sector, BitMine Immersion Technologies has significantly increased its holdings of Ethereum (ETH), making its largest weekly purchase of the year while other major digital asset treasuries (DATs) pull back their acquisition activities.
Over the past week, BitMine acquired 71,179 ETH, valued at approximately $143 million at current market prices, marking the company’s most substantial single-week Ethereum purchase in 2026. This acquisition extends a steady buying streak that has now lasted for four consecutive weeks, during which BitMine has progressively increased its weekly ETH purchases from an average of 45,000-50,000 tokens to over 71,000. With this latest purchase, BitMine’s total Ethereum holdings have surpassed 4.73 million ETH, representing about 3.92% of Ethereum’s circulating supply — a significant footprint in the crypto market. The company’s total cryptocurrency and cash assets now stand at an estimated $10.7 billion, including holdings of 197 Bitcoins and around $961 million spread across cash and equity investments, such as a $102 million stake in Eightco Holdings.
Unique Position Amid Market Caution
BitMine’s persistent accumulation contrasts sharply with trends seen among other large digital asset investors. Many institutional treasuries have either paused or reduced their purchasing amid the ongoing crypto market downturn, highlighting BitMine as the lone major corporate entity to sustain a substantial weekly accumulation pattern in digital currencies.
Notably, Strategy, a key player and the largest corporate Bitcoin holder, recently ended its 13-week BTC buying streak, emphasizing a broad industry shift towards caution. BitMine’s activity, therefore, positions it uniquely as a major buyer doubling down on crypto assets while peers reassess their portfolios.
Market Context and Company Outlook
Thomas "Tom" Lee, BitMine’s Chairman and also Chief Investment Officer of Fundstrat, commented on the purchase strategy, suggesting the current market environment represents the final phase of a downturn. He noted that external pressures such as rising oil prices and geopolitical tensions continue to suppress risk assets, but BitMine views this as an opportunity for accumulation.
BitMine’s strategic positioning indicates confidence in Ethereum’s long-term prospects despite prevailing headwinds. The company’s expanded Ethereum treasury reinforces its commitment to digital asset investment as a core component of its diversified portfolio.
Additional Industry Highlights
In related developments within the blockchain and cryptocurrency space:
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A consortium of 12 major European banks launched the MiCA-regulated Qivalis euro stablecoin initiative, aimed at establishing a euro-based token to compete with dominant dollar stablecoins and preserve European financial sovereignty on public blockchains.
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Meanwhile, research reports highlight stablecoins entering a new phase of institutionalization, with regulated issuers such as USDC, RLUSD, and PYUSD gaining significant market share, especially in North America.
For comprehensive coverage and real-time updates on digital asset markets and treasury trends, stay tuned to CoinDesk.
Reported by Krisztian Sandor, Edited by Sheldon Reback
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