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’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 “Alchemy of 5%” within just eight months.

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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 ‘Mini-Crypto Winter’ 

Lee commented on the current market conditions, expressing confidence that crypto prices are entering the final stages of what he referred to as a “mini-crypto winter.”

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 ‘mini-crypto winter.

Lee also noted that ETH price movements are tracking trends observed in the S&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&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.

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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

Michael Saylor, the executive chairman of Strategy (MSTR), has a message for his followers saying “Sell a kidney if you must, but keep the Bitcoin”. Of course, Saylor has been joking in a light mood as Bitcoin price crashes under $80,000 earlier today, while requesting investors to hold with diamond hands. On the other hand, Saylor has been actively in discussions with lawmakers for implementing a BTC strategic reserve for the United States.

Michael Saylor Wants Bitcoin Investors to Hold With Diamond Hands

The Bitcoin price crash under $80,000 today has sent tremors across the larger crypto market. With this, BTC has extended its weekly losses to more than 18% as the crypto market grapples through major liquidity crisis, macro uncertainty, Donald Trump’s trade war tariffs and much more.

Responding to the current developments, Michael Saylor wrote: “Sell a kidney if you must, but keep the Bitcoin”. The strategy executive chairman has been an ardent supporter of BTC and has pledged to never sell his Bitcoins anytime in the future. Several corporate players like Metaplanet, Semler Scientific, etc. have adopted Saylor’s Bitcoin playbook thereby managing to build immense wealth for their shareholders.

Saylor’s comment of selling a kidney saw mixed reactions from the Bitcoin community. While some took this as a joke, others took a jibe at him for his forever Bitcoin bulls predictions. One of the followers named Geoffrey said: “maybe you should have thought of that when you were buying 97k and not saving your powder for a dip”.

A further 16% drop in Bitcoin’s price could push MicroStrategy into a total loss on its Bitcoin holdings, in addition to its $8 billion debt burden. Critics argue that Saylor’s decision to heavily invest at market highs may have been overly aggressive. Recent reports also suggested that Strategy’s Bitcoin holdings would be at risk if the MSTR stock falls even further.

Saylor Discusses Bitcoin Strategic Reserve for US

Earlier this week, on Tuesday, Michael Saylor met with the House Financial Services Committee and Representative French Hill to discuss building Bitcoin Strategic reserves for the United States.

Saylor emphasized the importance of positioning the U.S. as a global leader incryptocurrency innovation. The meeting focused on fostering a regulatory environment that supports the growth and adoption of blockchain technologies while ensuring financial stability. Congressman Dan Meuser hosted the meeting with Saylor noting:

“Digital assets can unlock a frictionless payment future and enable new sources of access to capital. I look forward to the work the Financial Services Committee will do in crafting a commonsense legislative framework to provide clear rules of the road, fulfilling President Trump’s promise to make the U.S. the crypto capital of the world.”

Pitching BTC to Jeff Bezos

Earlier this week, Michael Saylor also pitched Bitcoin to billionaire Jeff Bezos. Bezos, who owns the Washington Post, said that the publication will undergo major changes for its opinions section while promoting “free markets” and “personal liberties”. Responding to this, Saylor wrote:

“Bitcoin is the best way to promote personal liberties and free markets. It offers an open protocol for prosperity that can be delivered to everyone via digital technology”.

Bitcoin price has faced a sharp correction in recent market turmoil and is down another 6% today trading at $80,290 as of press time. Investors remain on the edge as the buy the dips narrative fades away.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.