Bitmine Buys $75 Million Of Ethereum Amid Signs ‘Crypto Winter’ Is Over

Bitmine Buys $75 Million Of Ethereum Amid Signs ‘Crypto Winter’ Is Over

Mon, September 21, 2026 at 4:48 PM GMT+3 1 min read

Bitmine Immersion Technologies (NYSE: $BMNR) purchased another $75 million U.S. of Ethereum (CRYPTO: $ETH) amid signs that the "crypto winter" is ending.

Bitmine, the largest Ethereum treasury company, acquired 27,562 Ethereum over the past week, continuing its steady buying that has been ongoing for more than a year.

The company's latest purchase was worth $75.2 million U.S. and raised its holdings to 5,983,940 ETH, equal to about 4.9% of the token's 122.1 million circulating supply.

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In a social media post, Bitmine Chairman Tom Lee argued that institutional investors remain underexposed to cryptocurrencies as prices rally.

The latest Ethereum purchases come with Ethereum's price at $2,735 U.S. on Sept. 21, up more than 30% since the end of August amid a broad rally in digital assets.

Bitmine said that it has now staked about five million ETH, roughly 85% of its holdings, and projects staking revenue of $357 million U.S. annually at current yields.

Since the end of June this year, ETH has risen 76%, blowing past stock indices. A growing number of analysts say the crypto winter that began in October 2025 is nearing an end.

BMNR stock has declined 53% over the last 12 months to trade at $25.99 U.S. per share.