Is Ethereum’s 62% Dip an Attractive Entry Point? BitMine’s Tom Lee Thinks So

BitMine Immersion Technologies bought greater than 40,000 Ethereum (ETH) in a single day, persevering with its aggressive accumulation technique at the same time as unrealized losses rise to over $7 billion.

The newest accumulation comes as Ethereum continues to pattern downwards, with costs down roughly 62% from 2025 highs. Despite this, BitMine Chairman Tom Lee has expressed confidence in a possible V-shaped restoration for Ethereum.

BitMine Adds Over 40,000 ETH to Its Treasury 

In a current press launch, BitMine disclosed that it acquired 40,613 ETH final week. As of February 8, 2026, at 3:00 pm ET, the corporate’s whole Ethereum holdings stood at 4.325 million.

The announcement appeared to spice up investor sentiment. BitMine’s inventory, BMNR, closed at $21.45 on February 9, marking a 4.79% improve by the top of the buying and selling session.

BitMine’s accumulation didn’t cease there. On-chain analytics platform Lookonchain reported further Ethereum purchases after the disclosure. 

According to the information, the agency first acquired 20,000 ETH by way of FalconX, adopted by one other 20,000 ETH, price roughly $42.3 million, by way of BitGo.

“Today alone, it has purchased 40,000 ETH ($83.4 million),” Lookonchain wrote.

ETH Declines Sharply as BitMine Treats Pullback as Entry Point 

The continued shopping for means that BitMine stays dedicated to increasing its Ethereum treasury, even amid market uncertainty. According to information from BeInCrypto Markets, ETH has dropped 13.2% over the previous week.

At the time of writing, the second-largest cryptocurrency traded at $2,012, down 3.28% over the previous day.

Lee advised that the corporate views the value pullback as a strategic shopping for alternative, citing enhancing community fundamentals.

He additionally famous community power regardless of falling costs. Ethereum each day transactions hit 2.5 million and energetic addresses reached 1 million in 2026, as said in BitMine’s official announcement. These figures indicate rising adoption no matter market swings.

“In our view, the value of ETH just isn’t reflective of the high utility of ETH and its position as the way forward for finance,” he said.

Furthermore, Lee pointed to Ethereum’s historic value conduct to help his optimism. Since 2018, ETH has skilled 8 separate declines of fifty% or extra from current highs.

He highlighted an analogous sample in 2025, when Ethereum fell by 64% between January and March earlier than rallying sharply later within the yr. At the time, it surged from roughly $1,600 to almost $5,000.

According to Lee, Ethereum has traditionally staged V-shaped recoveries following main downturns. He said that such rebounds occurred after every of the earlier 8 drawdowns. Based on this pattern, he expects a comparable restoration to unfold in 2026.

“The finest funding alternatives in crypto have offered themselves after declines. Think again to 2025, the only finest entry factors in crypto occurred after markets fell sharply attributable to tariff issues,” Lee said.

Whether BitMine’s aggressive Ethereum bet will pay off remains unsure for now. Its capacity to face up to market weak point, alongside robust staking income, may generate important benefits if a V-shaped restoration seems. But ongoing value declines or a protracted market hunch may further challenge BitMine’s technique.

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