Tom Lee’s Bitmine Immersion added 40,613 ether last week as prices crashed
Analysis
Price Impact
HighTom lee's bitmine immersion, the world's largest eth holder, significantly added to its holdings during a price crash. this aggressive accumulation by a major institutional player signals strong long-term conviction and can act as a significant vote of confidence in ethereum's future.
Trustworthiness
HighThe information comes from coindesk, a reputable crypto news source, reporting specific actions and statements from bitmine immersion technologies and its chairman, tom lee. the figures and details are concrete.
Price Direction
BullishThe strategic buying by bitmine immersion, despite being underwater on previous purchases and actively accumulating during a dip, indicates a strong belief that eth is currently undervalued and has significant long-term upside potential. this institutional confidence can inspire other investors.
Time Effect
LongBitmine immersion's continuous accumulation and chairman tom lee's statements about eth's 'future of finance' role, coupled with their substantial unrealized losses, suggest a long-term investment horizon focused on fundamental growth rather than short-term price movements.
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Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Tom Lee’s Bitmine Immersion added 40,613 ether last week as prices crashed The firm's total ETH holdings top 4.3 million tokens worth about $8.7 billion at the current price just above $2,000. By Helene Braun | Edited by Stephen Alpher Feb 9, 2026, 2:49 p.m. Make us preferred on Google Tom Lee of Bitmine. (CoinDesk) What to know : Bitmine Immersion Technologies said it now controls $10 billion in crypto, equities and cash after adding more ether during last week's crash. The company said it purchased 40.613 tokens last week, though it didn't disclose at which price. Bitmine is sitting on an estimated $7.8 billion unrealized loss on its ETH purchases, which reportedly were made at an average price of $3,826 per token. Bitmine Immersion Technologies (BMNR) added to its ether ETH $ 2,034.15 holdings amid last week's crypto crash, bringing its stack to more than 4.3 million tokens worth about $8.7 billion at the current price just above $2,000. Led by Chairman Tom Lee, the company, which is the world’s largest holder of ETH, purchased another 40,613 tokens over the past week, though it didn't disclose the average buy price. ETH began the week above $2,300 and plunged to as low as $1,700 before closing out the week just above $2,000. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . BMNR shares are flat in early trading on Monday, though lower by 34% year-to-date. "Bitmine has been steadily buying Ethereum, as we view this pullback as attractive, given the strengthening fundamentals,” said Lee in a press release . “In our view, the price of ETH is not reflective of the high utility of ETH and its role as the future of finance.” Two-thirds of the firm’s ETH, around 2.9 million tokens, are already staked, generating an annualized yield of $202 million. Bitmine remains deeply underwater on its ETH purchases. Based on data from Dropstab , the company sits on a $7.8 billion loss on its ether holdings, which it bought at an average price of $3,826. Bitmine Ethereum News In this article ETH ETH $ 2,034.15 ◢ 4.39 %