Bitmine adds 61K ETH as prices hit $2K, Tom Lee says mini crypto winter may be ending

Bitmine Immersion Technologies expanded its Ethereum treasury by purchasing roughly 61,000 ETH, bringing its total holdings to 4,534,563 ETH as prices climbed back above the $2,000 level.

The move came as the broader crypto market rallied. Bitcoin surged toward $69,000 while Ethereum reclaimed $2,000, reflecting renewed investor interest in digital assets amid escalating geopolitical tensions surrounding Iran and volatility across traditional markets.

As of March 8, 2026, Bitmine reported total crypto, cash, and strategic investments of about $10.3 billion. The company holds 4.53 million ETH valued around $1,965 per token, alongside 195 Bitcoin, $1.2 billion in cash, and smaller equity investments including a $200 million stake in Beast Industries and $14 million in Eightco Holdings.

The Ethereum position represents about 3.76% of the total circulating supply, making Bitmine the largest corporate Ethereum treasury globally.

Bitmine chairman Tom Lee said the company believes crypto markets may be approaching the end of what he described as a mini crypto winter. Lee cited analysis from market strategist Tom DeMark, whose models compare Ethereum’s current price structure with historical market recoveries in the S&P 500 during 1987 and 2011.

According to Lee, correlations between ETH’s current trajectory and those historical patterns reach roughly 89% and 93%, suggesting a potential bottom could form between March 8 and March 14, slightly below the recent low near $1,740.

Based on that outlook, Bitmine increased the pace of its accumulation. The company acquired 60,976 ETH in the past week, compared with its previous average weekly purchases of about 45,000 to 50,000 ETH.

Beyond accumulation, Bitmine is expanding its staking operations. The firm currently has 3,040,483 ETH staked, worth roughly $6 billion, representing about 67% of its total Ethereum holdings.

Lee said the staking program is generating $174 million in annualized revenue, with potential to reach about $259 million annually when all ETH is fully deployed through the company’s Made in America Validator Network (MAVAN). The staking infrastructure platform is expected to launch in early 2026.

Bitmine ranks as the largest Ethereum treasury globally and the second-largest corporate digital asset treasury overall, behind Strategy, which holds more than 720,000 Bitcoin valued at roughly $48 billion.