Tom Lee Predicts End of Mini-Crypto Winter for Ethereum

BitMine Immersion Technologies (BMNR), one of the largest US-based cryptocurrency firms, has made headlines with a major Ethereum (ETH) purchase, acquiring approximately 61,000 tokens in a single week. With total holdings now exceeding 4.5 million ETH—worth over $9 billion—BitMine has solidified its position as one of the world’s largest corporate Ethereum holders. Despite being at a paper loss of around $7.8 billion, CEO Thomas Lee remains confident that the crypto market is entering the final stages of a so-called “mini-crypto winter.” This strategic accumulation reflects the firm’s belief that Ethereum prices are approaching a market bottom, signaling potential recovery for the broader crypto landscape.

BitMine Buys Ethereum Tokens

BitMine Immersion Technologies (BMNR), the largest US-based cryptocurrency company, purchased 60,976 ether (ETH) over the last week. The firm is accelerating its pace of accumulation, believing that crypto prices are nearing the end of what it considers a ‘mini winter.’

The new purchase is worth around $120 million at current prices, increasing BitMine’s ETH holdings to over 4.5 million tokens, worth more than $9 billion. This one is the company’s largest weekly purchase in token terms in 2026.

BitMine Becomes One of the Largest Holders of ETH

With the recent accumulation, BitMine Immersion Technologies (BMNR) positioned itself as the world’s largest corporate holder of Ethereum (ETH), holding over 4.53 million tokens, accounting for approximately 3.76% of the total ETH supply.

In addition to its cryptocurrency holdings, BitMine announced that it has 3,040,483 ETH staked, valued at approximately $6 billion based on an ETH price of $1,965 at the time of announcement.

The firm’s total assets, including cash and other cryptocurrencies, reached $10.3 billion, comprising 4.535 million ETH tokens, $1.2 billion in cash holdings, and various other crypto assets.

Ethereum price is stabilizing over the crucial $2,000 support level. BitMine CEO Lee highlights price resilience amidst rising geopolitical tensions and increasing oil prices.

Lee Suggests the Final Stage of ‘Mini-Crypto Winter’

Tom Lee commented on the current market conditions, indicating confidence that crypto prices are entering the final stage of ‘mini-crypto winter.’

He said, “Ethereum prices showed resilience this week, in the face of rising war concerns and surging oil prices. We continue to believe that crypto prices are in the late/final stages of the ‘mini-crypto winter.”

Lee also noted that ETH price movements are tracking trends observed in the S&P 500 during the falls of 2011 and 1987. As per the market analysis conducted by BitMine’s advisor, Tom DeMark of DeMark Analytics, these historical connections show a correlation of up to 89% and 93% with the S&P 500’s behavior during those periods.

The analyst predicted that Ethereum prices are likely to reach their lowest between 8 and 14 March, potentially dipping below the current low of $1,740. It marks a decline of about 14% from the current price.

Tom Lee also added that BitMine’s strategy involves slightly increasing the pace of its ETH accumulation, pushing its recent buying activity from an average of 45,000 to 50,000 ETH per week to the latest purchase of 60,976 ETH.

On March 9, Ethereum had a 4% price gain, reclaiming the $2,000 mark. As of March 10, 2026, the ETH price has increased by 2.76%, reaching $2,059.01.

Final Thoughts

BitMine Immersion Technologies (BMNR) has become one of the world’s largest corporate holders of Ethereum (ETH). It is working towards the goal of owning 5% of the total ETH supply. BitMine CEO Tom Lee is optimistic that a “mini crypto-winter” is in the final stage. The current geopolitical tensions have not affected crypto prices, and it is set for a major surge.

Also Read: Automated Wealth Management with Restake Finance: The Future of Crypto Yield Optimization