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Tag: Bitmine Immersion Technologies

  • Tom Lee Shrugs Off ETH Sell-Off, Says Fundamentals Don’t Match Falling Prices

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    BitMine added 41,788 ETH last week as Tom Lee called the pullback attractive amid growing on-chain activity.

    Ethereum’s (ETH) price plunged over the weekend, sliding from around $2,900 to near $2,100 as selling pressure intensified. It has since stabilized slightly as of Tuesday, but remains down more than 26% over the past month.

    Despite weakening investor confidence, Fundstrat head of research Tom Lee attributed the crypto asset’s weakness to the absence of leverage and gold’s rally rather than deteriorating Ethereum fundamentals.

    Aggressive Buying Spree

    Leading Ethereum treasury firm BitMine has continued to accumulate ETH during the recent price pullback. Lee, who is also its Chairman, described current levels as “attractive” amidst what he considers as strengthening network fundamentals.

    Lee said,

    “BitMine has been steadily buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals. In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance.”

    The sharp decline in the crypto asset’s price over the past month comes even as Ethereum daily transactions reached an all-time high of 2.5 million and active addresses climbed to a record 1 million per day in 2026. Lee compared this to earlier crypto downturns, when on-chain activity declined, and said recent price weakness appears driven by non-fundamental factors, including subdued leverage and a surge in precious metals prices.

    His comments followed reports estimating that the company was sitting on over $6.9 billion in unrealized losses on its Ethereum holdings.

    No Pressure To Sell ETH

    As of February 2, the company reported total crypto and investment assets of $10.7 billion, including 4,285,125 ETH, 193 Bitcoin, a $200 million stake in Beast Industries associated with MrBeast, a $19 million stake in Eightco Holdings, and $586 million in cash.

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    According to the company, its balance sheet comprises approximately $10.1 billion in crypto and investments, with its Ethereum holdings generating staking rewards at a Composite Ethereum Staking Rate of 2.81%, while cash earns money market yields of roughly 3.5% to 3.9%.

    BitMine reported no outstanding debt. Lee said this structure allows the firm to withstand crypto market volatility while generating recurring income. He also added that there is no pressure to sell ETH given the absence of debt covenants or related restrictions. As of February 1st, BitMine had staked 2,897,459 ETH, which is worth around $6.7 billion. This is an increase of 888,192 ETH over the past week and represents a portion of its total Ethereum holdings.

    Staked ETH has risen steadily from 408,627 ETH at the end of December 2024. BitMine said that it is currently working with three staking providers as it prepares to launch its commercial MAVAN validator network in 2026. As per Lee’s update, over the most recent week, the company acquired 41,788 ETH, continuing a pattern of weekly purchases that has included sizable additions throughout January.

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    Chayanika Deka

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  • BitMine Seeks Major Share Authorization Hike for Ethereum-Led Growth

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    The proposal is framed as a structural move to preserve flexibility, not an immediate plan to issue new shares.

    BitMine Immersion Technologies is asking shareholders to approve a massive increase in its authorized shares.

    The company’s leadership, led by Chairman Tom Lee, has explained that this strategic move is designed to enable future stock splits, a necessity they believe will arise as the firm’s share price climbs in tandem with its primary treasury asset: Ethereum (ETH).

    Shareholder Vote Focuses on Future Flexibility

    In a series of posts on January 2, Lee directly addressed investor questions regarding Proposal 2, which seeks to raise BitMine’s authorized common stock from 500 million to 50 billion shares, with a shareholder vote on the measure due by January 14.

    The crypto entrepreneur was quick to dismiss concerns that the proposal signals immediate shareholder dilution. Instead, he outlined three strategic reasons for the change, which are facilitating selective capital raises, enabling opportunistic mergers, and accommodating future share splits.

    “The last point is key,” Lee wrote. “Any time a company splits shares, total authorized needs to be high enough to accommodate.”

    This plan is intrinsically linked to BitMine’s mid-2025 pivot to holding Ethereum as its main treasury asset. According to Lee, the company’s stock price now closely tracks the price of ETH.

    It has aggressively built its position, with its latest purchase of the asset being a $97.6 million splurge on 32,938 ETH on December 31, 2025, bringing its total holdings to about 4.07 million ETH, valued at approximately $12 billion.

    Ethereum’s Potential and the Path to Splits

    Lee’s vision for BitMine is predicated on a bullish long-term outlook for Ethereum itself. He cited institutional belief in tokenization, echoing statements from leaders like BlackRock’s Larry Fink, and argued that most of this activity will occur on the Ethereum network.

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    He projects the world’s second-largest cryptocurrency by market cap could eventually hit prices of $22,000, $62,000, or even $250,000 in a scenario where Bitcoin reaches $1 million.

    Using BitMine’s established price correlation with ETH, Lee provided illustrative calculations for where the company’s stock could trade. These scenarios suggest share prices of $500, $1,500, or $5,000.

    To keep shares accessible to retail investors, the 56-year-old stated the company would want to split its stock to reset the price near $25. Such splits would drastically increase the number of shares outstanding, necessitating the proposed boost in authorized shares.

    This forward-looking strategy is coming at a time when Ethereum is weathering a difficult period. Data shows 2025 was ETH’s worst year since 2018, with nine monthly losses contributing to a 12% annual decline.

    The asset is currently trading slightly above $3,000, showing a 3.5% increase in the last 24 hours but remaining 39% below its all-time high set in August 2025. Nonetheless, Lee and BitMine are positioning for a future they believe will be defined by Ethereum’s role in finance, building their treasury through the downturn in preparation for an anticipated rebound.

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    Wayne Jones

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  • Analyst Says Ethereum Bounce Is Imminent As BitMine Continues To Accumulate

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    After losing the $4,450-$4,500 area during the recent market downturn, Ethereum (ETH) is attempting to hold a crucial level as support. Some analysts suggest that the leading altcoin is poised to bounce soon as crypto treasury companies continue to bet on the cryptocurrency.

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    Ethereum Eyes Rebound Amid $4,100 Retest

    On Monday, Ethereum’s price dropped around 7% during the largest liquidation event of the year so far. Notably, the crypto market saw more than $1.7 billion in leveraged positions liquidated over the past 24 hours, according to CoinGlass data.

    ETH led the losses with nearly $500 million in liquidations, followed by Bitcoin’s $284 million. This dragged the King of Altcoin’s price to the crucial $4,100 support for the first time since August, hitting a one-month low of $4,077.

    Daan Crypto Trades highlighted that today’s event was the largest nominal Ethereum liquidation since 2021, when the cryptocurrency’s price dropped around 45% in a single day. However, various market watchers noted that the price decline was relatively tame compared to previous liquidations of this scale.

    As the second-largest cryptocurrency dropped to the $4,100 support, some analysts suggested that Ethereum is gearing up for a rebound. Merlijn The Trader affirmed that ETH is “following the blueprint” to a five-digit target.

    Per the trader, the cryptocurrency rallied to its previous all-time high (ATH) of $4,800 after breaking out of a multi-year bullish pattern. Following its breakout from an Adam and Eve formation in 2021, the leading altcoin retested the level as support and consolidated around this area for three months before the next leg up.

    This time, Ethereum displays a new textbook setup with a multi-year descending triangle formation, which was broken out of last month and is currently being retested as support. According to the market watcher, ETH could see a 2021-like breakout toward the $10,000 barrier.

    Nonetheless, Ted Pillows asserted that the altcoin must hold the $4,100 area as support for a short-term bounce. “If this level is lost, Ethereum will drop towards the $3,700-$3,800 level,” the analyst warned.

    BitMine Holds 2% Of ETH Supply

    Despite the market downturn, corporations continue to bet on the second-largest cryptocurrency for their Digital Asset Treasury (DAT) strategies. BitMine, the second-largest crypto treasury, revealed that it has increased its ETH holdings to nearly 2.5 million tokens over the past week, as part of its goal to hold 5% of Ethereum’s total supply.

    BitMine now owns over 2% of the supply with 2,416,054 ETH, solidifying its position as the largest ETH Treasury in the world. According to the Monday announcement, the company now holds $11.4 billion in assets, including the 2.4 million ETH tokens, 192 Bitcoin (BTC), $175 million stake in Eightco Holdings for its “Moonshot” initiative, and unencumbered cash of $345 million.

    Additionally, the company is the 24th most traded stock in the US, with an average daily volume of $3.5 billion, according to 5-day average data from Fundstrat.

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    BitMine’s chairman, Thomas “Tom” Lee, stated that the company continues “to believe Ethereum is one of the biggest macro trades over the next 10-15 years,” adding that “Wall Street and AI moving onto the blockchain should lead to a greater transformation of today’s financial system. And the majority of this is taking place on Ethereum.”

    As of this writing, ETH is trading at $4,145, an 8% decline in the weekly timeframe.

    Ethereum’s performance in the one-week chart. Source: ETHUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

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    Rubmar Garcia

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  • Ethereum Price Will Still Climb Above $5,000 As Long As It Holds This Level

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    The Ethereum price has spent the past weeks stuck in a wide consolidation zone, testing bullish momentum as analysts anticipate its next big breakout. One market expert has highlighted a critical level for ETH, suggesting that as long as the second-largest cryptocurrency can hold above this level, its path to surpassing the $5,000 milestone remains intact. 

    Ethereum Price Faces Critical Level At $4,400

    According to market expert Daan Crypto Trades on X social media, Ethereum’s recent price action has been choppy following two slow weeks of trading. The analyst’s chart shows that ETH has oscillated between $4,100 and $4,800, with several stop hints and liquidity grabs creating false moves on both the bullish and bearish side. 

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    Despite these fluctuations, the $4,400 zone, which sits around the 200-day Moving Average (MA) on the 4-hour chart, continues to act as the key support level that stands between ETH and the $5,000 milestone. Daan Crypto Trades noted that this critical support is not just technical but also aligns with strong accumulation levels. 

    Source: Chart from Daan Crypto Trades on X

    The analyst highlighted that Bitmine Immersion Technologies, Inc. (BMNR) has been steadily adding to positions, though at a slightly lower pace as Net Asset Value (NAV) flows ease. This shows that as long as Ethereum can maintain its price above the $4,400 support level, buyers may remain in control. The chart clearly illustrates this battle for support. ETH’s dips below $4,500 have so far been short-lived, with price consistently bouncing back into the consolidation range. 

    This repeated defense strengthens the case for Ethereum to sustain its momentum and build the foundation for a run above $5,000. For now, patient accumulation within the consolidation zone appears to be the market’s strategy as the cryptocurrency gears up for a potential breakout once broader conditions align. 

    $5,000 Is Only A Matter Of Time

    In a follow-up analysis, Daan Crypto Trades reinforced his bullish view, noting that Ethereum is essentially in a “$5,000 waiting room.” The analyst’s chart highlights this view, showing ETH rebounding strongly after retesting the $4,400 region. With both the 200 MA and 200 EMA on the 4-hour chart acting as underlying support, the cryptocurrency’s structure appears intact despite short-term volatility. 

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    Daan Crypto Trades suggested that while a retest of $4,000 – $4,100 is still possible, the market is unlikely to sustain a breakdown below that zone as long as ETH holds $4,400. In other words, maintaining this critical support could pave the way for new all-time highs. 

    The chart also reflected the market’s resilience, with ETH rejecting the lows and quickly climbing back toward $4,600. Such a rebound often signals that bulls may be preparing for the next leg higher. If the momentum continues, Ethereum retesting its former all-time high of $4,868 and breaking above $5,000 may only be a matter of time.

    Ethereum
    ETH trading at $4,516 on the 1D chart | Source: ETHUSDT on Tradingview.com

    Featured image from Getty Images, chart from Tradingview.com

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    Scott Matherson

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