BitMine increased its ETH holdings by 40,613 coins last week. Tom Lee stated that he believes ETH will experience a "V-shaped recovery" as usual.

February 9 — Bitmine announced today that the combined value of its cryptocurrency holdings, cash, and “high-risk, high-return investment projects” has reached $10 billion, per official sources. As of 3:00 PM Eastern Time on February 8, 2026, the company’s assets include: - 4,325,738 ETH - 193 Bitcoin (BTC) - $200 million in Beast Industries equity - $19 million in Eightco Holdings equity (Nasdaq: ORBS) — a “high-risk, high-return investment project” - $595 million in cash Bitmine CEO Thomas “Tom” Lee noted: “ETH has fallen 62% from its 2025 peak, but Ethereum’s daily transaction volume has hit a record 2.5 million, while 2026 daily active addresses have surged to an all-time high of 1 million. Cryptocurrency prices are highly volatile — in fact, this is the 8th time since 2018 that ETH has dropped 50% or more from a recent high, meaning such declines happen nearly every year. Between January and March 2025, ETH fell 64%, then later that year jumped from $1,600 to $5,000.” Lee added: “ETH often sees a V-shaped recovery after hitting a major low — this pattern has held in all 8 prior instances of declines exceeding 50%. A similar rebound is expected in 2026. The best crypto investment opportunities often come after a downturn. Looking back at 2025, the market’s best entry point was exactly after a sharp drop tied to tariff concerns.”