The company bought 111,942 ether last week worth $237 million as it saw ETH slide below $2,200 as attractive buying opportunity.

ETH’s bearish chart setup points to a 25% drop toward $1,600, risking over $10 billion in unrealized losses for BitMine.

PRNewswire, PRNewswire, 26th May 2026, Chainwire

The company bought 111,942 ether last week worth $237 million as it saw ETH slide below $2,200 as attractive buying opportunity.

"We view the recent pullback of ETH to below $2,200 as an attractive opportunity," Bitmine Chairman Tom Lee said.

BitMine Immersion Technologies made its largest Ethereum acquisition yet this year—just weeks after saying it might slow down its ETH buys.

BitMine Immersion Technologies Inc. (NASDAQ:BMNR) purchased 111,942 Ethereum