Tom Lee’s BitMine Buys 45,759 ETH Near Bottom Zone
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BitMine buys 45,759 ETH, raising holdings to 4.37M ETH as CryptoQuant flags whale accumulation and potential Ethereum bottom signals. BitMine Immersion Technologies has added 45,759 Ethereum during a period of market weakness, as new data from CryptoQuant points to potential bottom signals forming in the Ethereum market. Institutional Buying Continues Despite Ethereum Price Drop In a recent press release, BitMine confirmed the purchase of 45,759 ETH over the past week. The company said it continued accumulating despite Ethereum’s recent decline. At the time of reporting, ETH traded near $1,974 and remained under pressure on the monthly chart. 🚨 JUST IN: Tom Lee’s firm BitMine has acquired 45,759 $ETH, investing approximately $91 million in Ethereum. Big capital positioning early. 👀 pic.twitter.com/sjtwW3xXl9 — Jax (@Jaxweah) February 17, 2026 Tom Lee described the pullback as “attractive” based on Ethereum’s fundamentals. He stated that BitMine sees stronger utility in the network than current prices suggest. The firm said it plans to keep buying ETH regardless of short-term price moves. Following the latest purchase, BitMine reported total holdings of 4,371,497 ETH. The company disclosed an average acquisition price of $1,998 per coin. It also holds 193 Bitcoin and about $670 million in cash. Staked ETH and Revenue Projections BitMine reported that 3,040,483 ETH are currently staked. At a reference price of $1,998, the staked amount is valued near $6.1 billion. The firm said it achieved a 2.89% seven-day staking yield. Based on that yield, BitMine projected potential annual staking rewards of up to $252 million at scale. However, the company also listed annualized staking revenue at $176 million. It compared its yield to Quatrefoil’s Composite Ethereum Staking Rate of 2.84%. Lee said the company is building its Made in America Validator Network, known as MAVAN. The rollout is scheduled for early 2026, with a Q1…
Filed under: News - @ February 18, 2026 4:24 am