Bitmine Adds $145M in ETH as Tom Lee Signals End of Crypto Winter

• Bitmine accelerates Ethereum accumulation as institutional confidence gradually strengthens
• Tom Lee signals crypto winter ending amid steady ETH buying
• Ethereum stabilizes near key levels as large players expand holdings

Bitmine Immersion Technologies has extended its Ethereum accumulation strategy with another large purchase, reinforcing its position as one of the most dominant institutional holders during a period of subdued price performance across the broader market.

According to Lookonchain, the firm acquired 67,111 ETH valued at approximately $145 million on Tuesday, with the transactions executed through two separate wallet addresses associated with Bitmine and later confirmed by analytics platform EmberCN. Moreover, this latest acquisition continues a pattern of steady and deliberate accumulation, as the company had previously disclosed purchasing 65,341 ETH between March 16 and March 22, highlighting a consistent increase in exposure over a relatively short period despite ongoing volatility.

Consequently, Bitmine’s total Ethereum holdings have reached approximately 4.66 million ETH, which is valued near $10 billion at current market prices and represents around 3.86% of the asset’s circulating supply, further solidifying its position as the largest known Ethereum treasury holder.

Tom Lee, chairman of Bitmine, stated earlier this week that the firm believes Ethereum is approaching the final stages of what he described as a mini crypto winter, with continued accumulation reflecting confidence in improving market conditions ahead. Meanwhile, Ethereum traded near $2,169, recording modest gains over the past 24 hours, although the asset remains more than 55% below its previous peak near $4,900 reached in August 2025, which continues to define the broader recovery phase.

Institutional buying intensifies as Bitmine leads Ethereum accumulation

Besides Bitmine, other treasury-focused firms are also maintaining exposure to Ethereum, although their holdings remain significantly smaller in comparison, with SharpLink Gaming holding about 863,021 ETH and The Ether Machine controlling roughly 496,712 ETH. Additionally, the scale of accumulation by Bitmine highlights a growing trend among institutional players that are increasingly positioning for long-term exposure, particularly during periods when prices remain below historical highs and market sentiment shows signs of stabilization.

Moreover, the firm’s consistent buying activity over consecutive weeks suggests a structured treasury approach rather than opportunistic trading, as it continues to expand its holdings despite ongoing volatility across digital asset markets. Bitmine’s stock performance, however, has not reflected the same upward momentum, as shares declined by 2.21% on Tuesday to close at $20.8 before recovering slightly in after-hours trading, while still remaining nearly 60% lower over the past six months.

Technical indicators show stabilizing momentum near key resistance

Recent chart data indicates that Ethereum is consolidating near the $2,150 to $2,170 range, with price action holding above the mid-band of the Bollinger Bands, which suggests a period of reduced volatility following a sharp upward move earlier in the month. Additionally, the upper Bollinger Band sits near $2,318, acting as a near-term resistance level, while the lower band around $1,899 provides a broader support zone, creating a defined trading range that traders continue to monitor closely.

Moreover, the Relative Strength Index is positioned around 54, indicating neutral momentum conditions rather than overbought or oversold extremes, which aligns with the ongoing consolidation phase seen in recent sessions. Consequently, the combination of steady price action and balanced momentum indicators suggests that Ethereum is attempting to stabilize after recent fluctuations, while maintaining support above key moving averages that continue to trend upward.

Bitmine’s latest $145 million Ethereum purchase reinforces its aggressive accumulation strategy as Tom Lee signals a potential end to the crypto winter phase, with the firm continuing to expand its holdings while maintaining a dominant position among institutional Ethereum investors.

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