Tom Lee Says "Mini Crypto Winter" Is Fading, ETH Has Achieved 77% of Target

SmartContractAuditor · 2026-03-24T05:25:22+00:00

Bitmine Immersion Technologies Chairman Tom Lee noted that the "mini crypto winter" is ending, with the company recently accelerating ETH purchases. Due to the advancement of the CLARITY Act and market stabilization, ETH has risen 18% since the Iran conflict. Bitmine currently holds over 4.6 million ETH and plans to continue increasing its position to achieve its 5% holding target.

SmartContractAuditor

2026-03-24 05:25:22

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Odaily Planet Daily reports that Tom Lee, Chairman of Bitmine Immersion Technologies, stated that the “mini crypto winter” affecting ETH is coming to an end, and the company has maintained a strong buying pace over the past three weeks. Lee pointed out that the progress of the CLARITY bill in Congress and the relative stability of the crypto market amid the turmoil in Iran are positive signals. Since the Iran war, ETH has risen 18%, outperforming the stock market by 2,450 basis points, while gold has fallen over 15% during the same period.

Last week, Bitmine purchased an additional 65,341 ETH, worth approximately $139 million, bringing its total holdings to over 4.6 million ETH, about 3.86% of the total circulating supply. To reach its 5% target, it needs to acquire about 1.4 million more ETH, which would cost roughly $2.9 billion at current prices. The company has already staked over 3 million ETH.

Bitmine also holds $1.1 billion in cash, 196 BTC, a $200 million investment in Beast Industries, and a $95 million investment in Eightco Holdings. According to StrategicEthReserve, Bitmine ranks first among 67 major ETH holding institutions, with SharpLink Gaming holding 863,000 ETH in second place, and Ether Machine holding 496,000 ETH in third.

ETH5.17%

BTC3.58%

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