BitMine Immersions has acquired 41,788 ETH worth $97 million over the past week, continuing its bullish stance on Ethereum despite recent price declines. The company now holds 4.28 million ETH, making it a leading Ethereum treasury entity. Chairman Thomas Lee emphasized Ethereum's strong fundamentals, citing record daily transactions and active addresses as indicators of robust network activity. In addition to its acquisitions, BitMine has aggressively increased its ETH staking, adding 888,192 ETH last week alone, bringing its total staked ETH to 2.89 million. This strategic move is expected to generate $188 million in annualized yield. Despite facing $6 billion in unrealized losses due to ETH's price drop, BitMine maintains a strong financial position with $586 million in cash and no debt, positioning it to weather market volatility without pressure to sell its holdings.