Tom Lee Says Mini Crypto Winter Is Fading, ETH Has Achieved 77% of Target

ZkProver · 2026-03-24T06:06:34+00:00

Bitmine Immersion Technologies Chairman Tom Lee stated that the crypto winter affecting ETH is ending, with the company continuously making high-frequency ETH purchases over the past three weeks. The advancement of the CLARITY Act and market stability are positive signals, with ETH up 18% since the Iran conflict. Bitmine currently holds over 4.6 million ETH and aims to increase its holdings further.

ZkProver

2026-03-24 06:06:34

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ChainCatcher News: Bitmine Immersion Technologies President Tom Lee stated that the mini crypto winter affecting ETH is coming to an end. The company has maintained a strong buying pace over the past three weeks. Lee pointed out that the progress of the CLARITY bill in Congress and the relative stability of the crypto market amid the turmoil in Iran are positive signals. Since the Iran conflict, ETH has risen 18%, outperforming the stock market by 2,450 basis points, while gold has fallen over 15% during the same period.

Last week, Bitmine purchased an additional 65,341 ETH, worth approximately $139 million. The total holdings now exceed 4.6 million ETH, about 3.86% of the total circulating supply. To reach their 5% target, they need to acquire about 1.4 million more ETH, which would cost roughly $2.9 billion at current prices. The company has already staked over 3 million ETH. Bitmine also holds $1.1 billion in cash, 196 BTC, a $200 million investment in Beast Industries, and a $95 million investment in Eightco Holdings. According to StrategicEthReserve, Bitmine ranks first among 67 major ETH holding institutions, with SharpLink Gaming holding 863,000 ETH in second place, and Ether Machine holding 496,000 ETH in third.

ETH5.89%

BTC4.36%

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