Is Ethereum’s 62% Dip an Attractive Entry Point? BitMine’s Tom Lee Thinks So

BitMine Immersion Technologies bought more than 40,000 Ethereum in a single day as unrealized losses topped $7 billion, continuing an aggressive accumulation strategy even while ETH sits roughly 62% below 2025 highs. The company disclosed acquiring 40,613 ETH last week, bringing total holdings to 4.325 million as of February 8, 2026, at 3:00 pm ET, and its stock, BMNR, closed at $21.45 on February 9, up 4.79%.

On-chain reporting showed additional buys after the disclosure: an initial 20,000 ETH through FalconX followed by another 20,000 ETH via BitGo, the latter worth about $42.3 million. Lookonchain wrote, "Today alone, it has bought 40,000 ETH ($83.4 million)." Chairman Tom Lee described the pullback as a strategic buying opportunity and pointed to improving network fundamentals, noting daily transactions reached 2.5 million and active addresses hit 1 million in 2026.

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