{"id":37715,"date":"2026-03-10T09:00:02","date_gmt":"2026-03-10T09:00:02","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=37715"},"modified":"2026-03-10T09:00:02","modified_gmt":"2026-03-10T09:00:02","slug":"bitmine-acquires-60000-eth-chair-discusses-outlook-for-ethereum-and-crypto-prices","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=37715","title":{"rendered":"BitMine Acquires 60,000 ETH; Chair Discusses Outlook For Ethereum And Crypto Prices"},"content":{"rendered":"

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.\u00a0<\/p>\n

BitMine Holds 3.7% Of Total Ethereum Supply<\/h2>\n

BitMine\u2019s latest transaction, comprising 60,976 Ethereum tokens, marks the company\u2019s largest weekly acquisition in terms of tokens so far in 2026. Following this acquisition, BitMine\u2019s total ETH holdings<\/a> have risen to 4.5 million tokens.<\/p>\n

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 \u201cAlchemy of 5%\u201d within just eight months.<\/p>\n

In addition to its cryptocurrency holdings, BitMine disclosed <\/a>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\u2019s disclosure.\u00a0<\/p>\n

The firm\u2019s 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.\u00a0<\/p>\n

As Ethereum prices stabilize above the crucial $2,000 support level, CEO Tom Lee highlighted the resilience of ETH amidst rising geopolitical tensions<\/a> and increasing oil prices.<\/p>\n

Final Stages Of \u2018Mini-Crypto Winter\u2019\u00a0<\/h2>\n

Lee commented on the current market conditions, expressing confidence that crypto prices are entering the final stages of what he referred to as a \u201cmini-crypto winter.\u201d <\/p>\n

\n

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 \u2018mini-crypto winter.<\/p>\n<\/blockquote>\n

Lee also noted that ETH price movements are tracking trends observed in the S&P 500 <\/a>during the falls of 2011 and 1987.\u00a0According to analyses from BitMine\u2019s advisor, Tom DeMark of DeMark Analytics, these historical connections show correlations of up to 89% and 93% with the S&P 500\u2019s behavior during those periods.\u00a0<\/p>\n

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.<\/p>\n

Lee also added that BitMine\u2019s strategy involves slightly increasing the pace of its ETH accumulation<\/a>, 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.<\/p>\n

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\u2019s stock, BMNR, also showed positive movement, trading at $20.70 per share at the time of writing, marking a significant 10% rally <\/a>for the company.<\/p>\n

\"Ethereum\"<\/p>\n

Featured image from OpenArt, chart from TradingView.com <\/p>","protected":false},"excerpt":{"rendered":"

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.\u00a0 BitMine Holds 3.7% Of Total Ethereum Supply BitMine\u2019s latest transaction, comprising 60,976 Ethereum tokens, marks the company\u2019s largest weekly acquisition in terms of tokens so far in 2026. […]<\/p>\n","protected":false},"author":1,"featured_media":37716,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[47],"tags":[],"class_list":{"0":"post-37715","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ethereum"},"yoast_head":"\nBitMine Acquires 60,000 ETH; Chair Discusses Outlook For Ethereum And Crypto Prices - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=37715\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BitMine Acquires 60,000 ETH; Chair Discusses Outlook For Ethereum And Crypto Prices - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"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.\u00a0 BitMine Holds 3.7% Of Total Ethereum Supply BitMine\u2019s latest transaction, comprising 60,976 Ethereum tokens, marks the company\u2019s largest weekly acquisition in terms of tokens so far in 2026. 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