BitMine Adds 40,613 ETH to Reach 4.326M Holdings Valued at $9.2B
BitMine added 40,613 ETH to bring total holdings to 4.326 million tokens valued at $9.2 billion, alongside 193 Bitcoin and $595 million cash for $10.0 billion in assets. Tom Lee predicts a V-shaped ethereum rebound as the stock faces bearish technical indicators after an 80% peak decline.
1. ETH Holdings Surge
BitMine added 40,613 Ethereum last week, boosting total ETH holdings to 4,325,738 tokens (3.58% of supply) valued at $9.2 billion. The company’s overall portfolio includes 193 Bitcoin, $595 million in cash and a $200 million stake in Beast Industries, bringing combined assets to $10.0 billion.
2. V-Shaped Recovery Thesis
Executive Chairman Tom Lee expects Ethereum to exhibit a V-shaped rebound following its 62% decline from 2025 highs, citing eight prior instances of 50%+ corrections since 2018. He highlights the January–March 2025 drop and subsequent $1,600 to $5,000 rally as precedent for a repeat recovery in 2026.
3. Technical Analysis
BitMine’s stock is testing critical $21.67 support after losing roughly 80% from its $110 peak. All key exponential moving averages (20, 50, 100, 200) remain above current prices, with immediate resistance near $25.34 and $25.59, reinforcing a bearish Supertrend signal.
4. Ethereum Network and Staking Metrics
Ethereum daily transactions hit a record 2.5 million while active addresses reached 1 million per day, underscoring network vitality. BitMine has staked 2,897,459 ETH, generating $202 million in annualized staking revenue at prevailing rates.