BitMine increased its ETH holdings by 60,976 last week, while Tom Lee reiterated that the current phase is the "late bear" stage.

Bitmine announced on March 9 that its combined holdings of cryptocurrency, cash, and high-risk, high-return investment projects have reached $10.3 billion, per official sources. As of 4:00 PM Eastern Time on March 8, 2026, the company’s asset holdings include: - 4,534,563 ETH - 195 BTC - $2 billion in Beast Industries equity - $140 million in Eightco Holdings equity - $1.2 billion in total cash Bitmine Executive Chairman Thomas “Tom” Lee stated: “Against this week’s backdrop of war concerns and surging oil prices, Ethereum’s price has demonstrated resilience. We continue to believe crypto prices are in the late stage—if not the final phase—of a ‘mini crypto winter.’” Lee cited analysis from Bitmine advisor Tom DeMark, noting ETH’s price trend has an 89% correlation with the S&P 500’s 2011 decline and 93% correlation with its 1987 drop. “If this analogy holds, ETH will bottom out slightly below its recent $1,740 low between March 8 and 14,” he added. Lee revealed Bitmine accelerated its ETH accumulation pace over the past week, acquiring 60,976 ETH total—exceeding its previous weekly average of 45,000 to 50,000 ETH. “As the saying goes, no one rings a bell at the bottom, so Bitmine’s strategy is to slightly speed up accumulation,” he said. As of March 8, Bitmine’s staked ETH totaled 3,040,483 ETH, valued at $60 billion—representing 67% of its total holdings.