Bitmine Immersion Technologies has continued its aggressive Ethereum accumulation strategy, purchasing an additional 54,156 ETH. This latest acquisition, announced amid a bearish cryptocurrency market, brings the company's total holdings to 3.56 million ETH. The move comes as Ethereum's price has shown weakness, dipping below key support levels. Despite the market downturn, which has resulted in a reported unrealized loss of $3 billion on its ETH investments for the company, Bitmine's leadership remains steadfast. Chairman Thomas Lee attributed the current market weakness to the deteriorating balance sheet of a major market maker, which is impacting liquidity and prices. He suggests the crypto market cycle has not yet peaked and could continue to rise for another one to three years. This continued investment in the face of market volatility underscores Bitmine's long-term conviction in Ethereum. The company, which holds the largest ETH treasury, is signaling to investors its firm commitment to its primary strategy of crypto accumulation for long-term investment, even as it navigates significant paper losses.