BitMine Immersion Technologies has started 2026 with another large Ethereum
purchase.
According to blockchain data shared by Arkham on January 8, the company spent about $105 million on Ethereum in its first recorded buy of the year.
BitMine owns roughly 4.07 million ETH, valued at $12.6 billion, according to figures from StrategicEthReserve.
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The company still holds about $915 million in cash, as stated in its January 5 update. BitMine has suggested this cash could go toward future Ether purchases. Its goal remains to control 5% of the total ETH supply.
Recent blockchain activity showed that BitMine has also been expanding its staking operations. Data from Lookonchain indicated that the firm has staked more than $2.87 billion in Ethereum.
Tom Lee, BitMine’s chairman and co-founder of Fundstrat Global Advisors, said that while Ethereum may see a short-term dip, he expects a stronger recovery later in the year.
In an internal note shared on X, Lee predicted the price could fall to around $1,800 in the first half of 2026 before offering “attractive opportunities into year-end”.
Strategy, the largest corporate Bitcoin holder, revealed that it began 2026 with a fresh purchase of 1,283 Bitcoin for $116 million. What did the company say? Read the full story.
