Bitmine Immersion Technologies scooped up 101,627 Ethereum tokens over the past week. That’s worth about $230 million at $2,300 per token. The move marks the company’s largest weekly purchase of 2026—and its biggest since December 2025. Holdings now top 4.97 million ETH, valued at $11.43 billion. And that’s roughly 4.1% of Ethereum’s total supply of 120.7 million tokens. Cash and other assets push total reserves to $12.9 billion, including 199 Bitcoin and stakes in ventures like Beast Industries. Chairman Thomas ‘Tom’ Lee calls it conviction. ‘We see growing signs that the ‘mini-crypto’ winter is coming to an end,’ he said in a company update on X. Downside risks from the US-Iran war are fading, he argues. Ethereum has climbed 41% from early February lows. It has beaten the S&P 500 by 2,280 basis points since the conflict began on February 28. Lee positions ETH as the top ‘war-time store of value’—outpacing even gold by thousands of basis points.…