BitMine Buys $240 Million in Ethereum as Tom Lee Heralds Arrival of 'Crypto Spring'
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By Andrew Hayward
Published on May 4, 2026.
Top Ethereum treasury firm, BitMine Immersion Technologies, has purchased over 100,000 ETH over the last week, marking its third consecutive weekly purchase. The company's total value of the total of 101,745 ETH is now at $240 million. The purchase includes 10,000ETH purchased directly from the Ethereum Foundation at an over-the-counter sale at an average price of $2,292 per coin. Despite the recent surge in ETH's value, Bitmine still holds an unrealized loss of around $6 billion. The firm also holds 200 Bitcoin worth around $16 million and $700 million in cash.
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