Tom Lee Expects 'Defining Year for Ethereum' as BitMine Buys ETH Amid 'Rock Bottom' Vibes
BitMine Immersion Technologies recently purchased 45,759 ETH—valued at nearly $91 million—raising its total Ethereum holdings to 4.37 million ETH, worth about $8.68 billion. Despite a roughly $7.9 billion unrealized loss following Ethereum’s 60% drop from its 2021 peak, Chairman Tom Lee remains positive about Ethereum’s long-term prospects, citing catalysts such as financial sector tokenization, AI integration, and creator-driven standards on Ethereum’s network. BitMine also holds 193 Bitcoin, $670 million in cash, and has invested in Beast Industries and Worldcoin initiatives. Lee acknowledges the current bearish market sentiment but emphasizes BitMine’s ongoing ETH accumulation regardless of price, reaffirming belief in Ethereum’s future value.
