Tom Lee: Market pullback is an "extremely attractive" entry point, Bitmine purchased $84 million worth of Ethereum this week

2026-02-10 03:19:28

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Odaily Planet Daily reports that, according to Arkham data, BitMine purchased a total of 40,000 ETH from FalconX and BitGo on Monday, valued at $84 million, at an average transaction price of approximately $2,090. As of the end of last week, BitMine held 4,325,738 ETH, with a total value of $914 million. The company has currently achieved 72% of its target to acquire 5% of the circulating supply of Ethereum. Additionally, BitMine has staked about 67% of its ETH holdings, generating an annualized income of $202 million.

Tom Lee stated that the best investment opportunities in cryptocurrencies often appear after a decline. Given the continuous strengthening of Ethereum’s fundamentals, this market correction presents a highly attractive entry point, as the current ETH price does not reflect its high utility as a future financial core. Regarding BitMine’s substantial unrealized losses, Tom Lee pointed out that this is part of Ethereum’s treasury strategy during market downturns, with the company aiming to achieve excess returns through a full market cycle.

ETH-4,66%

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