Bitmine accelerates ETH purchases with 60,976 tokens as Tom Lee calls market late-stage "mini crypto winter"

Bitmine disclosed on March 9 that its combined holdings of cryptocurrencies, cash, and high-risk investment projects total $10.3 billion, according to an official announcement. As of 4:00 PM ET on March 8, 2026, the portfolio includes 4,534,563 ETH, 195 BTC, $200 million in Beast Industries equity, $14 million in Eightco Holdings equity, and $1.2 billion in cash, with 3,040,483 ETH staked at $6 billion (67% of ETH holdings). Executive Chairman Tom Lee said Ethereum showed resilience this week despite war concerns and higher oil prices, reiterating his view that crypto prices are in the late or final stage of a "mini crypto winter." Citing Bitmine advisor Tom DeMark, Lee noted ETH has shown 89% and 93% correlation with the S&P 500 in fall 2011 and fall 1987 respectively, adding that Bitmine accelerated its ETH accumulation over the past week by purchasing 60,976 ETH, above its prior weekly average of 45,000 to 50,000 ETH.