BitMine aggressively purchases 40,000 ETH! Tom Lee: Optimistic about Ethereum's V-shaped rebound in 2026

Amid a sharp correction in Ethereum prices and a shift toward more conservative market sentiment, U.S.-listed company BitMine increased its holdings by purchasing over 40,000 ETH last week. Chairman Tom Lee straightforwardly stated that historical experience shows Ethereum often experiences a typical “V-shaped rebound” after significant declines.
(Background recap: BitMine’s floating loss surpasses $8 billion! Ethereum falls below $2,000, can Tom Lee’s 4.3 million ETH holdings withstand the pressure?)
(Additional background: BitMine continues to buy with a floating loss of $6.6 billion! Tom Lee: Not selling isn’t a loss; total holdings exceed 4.3 million ETH)

Table of Contents

• Contrarian Increase: BitMine bought 40,613 ETH last week
• Asset scale reaches $10 billion, ETH holdings top globally
• Leading staking scale worldwide, annualized yield potential exceeds $300 million
• Tom Lee: ETH has historically rebounded with a V-shape after major drops

As the crypto market continues to fluctuate and Ethereum prices have fallen sharply from their highs, the world’s largest Ethereum reserve company, BitMine Immersion Technologies, has once again chosen to take a contrarian position. According to the company’s latest announcement, BitMine significantly increased its ETH holdings by 40,613 last week, and Chairman Tom Lee directly stated that historical experience shows ETH often exhibits a “V-shaped rebound” after major corrections, making this an attractive entry point.

Contrarian Increase: BitMine bought 40,613 ETH last week

BitMine pointed out in its announcement that within just the past week, the company added 40,613 ETH, demonstrating strong confidence in Ethereum’s long-term value.

Tom Lee said that the company has been steadily buying Ethereum recently because this price correction is not due to deteriorating fundamentals but occurs amid continued high network activity and usage metrics. He emphasized that BitMine views this correction as a medium- to long-term investment opportunity rather than a risk signal.

Asset scale reaches $10 billion, ETH holdings top globally

As of February 8, 2026, BitMine’s total assets—including crypto holdings, cash, and “Moonshots” investments—have reached $10 billion. Among these, BitMine holds approximately 4.326 million ETH, valued at $2,125 per ETH, making it a core part of its asset allocation.

In addition to Ethereum, BitMine also holds 193 Bitcoin and has completed a $200 million strategic investment in Beast Industries, as well as holding equity in Eightco Holdings. The company’s cash on hand is about $595 million, giving its overall asset structure high liquidity and flexibility.

Based on holdings, BitMine currently controls about 3.58% of the circulating supply of ETH, ranking as the largest Ethereum treasury among global companies.

Leading staking scale worldwide, annualized yield potential exceeds $300 million

Beyond asset allocation, BitMine actively enhances asset utilization through staking strategies. The announcement shows that BitMine has staked approximately 2.897 million ETH, with a market value of about $6.2 billion, making it one of the largest single entities globally in staking.

Tom Lee pointed out that, based on the current approximate 3.11% compounded Ethereum staking rate (CESR), BitMine’s annualized staking yield could reach $374 million, equivalent to over $1 million in daily cash flow. The company’s self-operated staking yield over the past 7 days has been even higher at 3.32%.

Tom Lee: ETH has historically rebounded with a V-shape after major drops

Regarding the market’s most closely watched price outlook, Tom Lee clearly expressed high confidence in ETH’s medium-term trend in the announcement. He noted that since 2018, ETH has fallen more than 50% from its highs eight times, and each time, it ultimately experienced a clear V-shaped rebound.

Lee recalled that in early 2025, ETH dropped 64% within three months but then rebounded strongly to the $5,000 level. He believes that historical patterns show the best entry points in crypto markets often occur after panic-driven corrections.

More importantly, contrasting with the price movements, Ethereum’s fundamentals continue to strengthen. Lee emphasized that daily transaction counts and active addresses on Ethereum have hit all-time highs in 2026, indicating expanding real-world usage. He bluntly stated that current ETH prices “do not yet reflect its high practicality as future financial infrastructure.”