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BitMine increased its holdings by 60,976 ETH last week, and Tom Lee reiterated that we are currently in the late stage of a "small bear" market
According to official news, Bitmine announced today that the total value of its cryptocurrency, cash, and "high-risk, high-return investment projects" amounts to $10.3 billion. As of March 8, 2026, at 4:00 PM Eastern Time, the company's held crypto assets include:
- 4,534,563 ETH
- 195 Bitcoin
- $200 million in Beast Industries equity
- $14 million in Eightco Holdings equity
- A total cash amount of $1.2 billion.
Bitmine Executive Chairman Thomas "Tom" Lee stated, "This week, against the backdrop of war concerns and soaring oil prices, the price of Ethereum has shown resilience. We continue to believe that crypto prices are in the late/final stages of a 'mini crypto winter'." He cited analysis from Bitmine advisor Tom DeMark, noting that the price trend of ETH is highly correlated with the S&P 500 index in the fall of 2011 and the fall of 1987 (with correlations of 89% and 93%, respectively). If this analogy holds, the price of ETH is expected to bottom out slightly below the recent low of $1,740 between March 8 and 14.
Lee revealed that in the past week, Bitmine has accelerated its accumulation of ETH, adding 60,976 ETH, which is above the previous weekly average of 45,000 to 50,000. "As the saying goes, no one rings the bell at the bottom, so Bitmine's strategy is to slightly speed up the accumulation pace." As of March 8, Bitmine has staked a total of 3,040,483 ETH, valued at $6 billion, accounting for 67% of its total holdings.
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