The post Tom Lee’s BitMine doubles down on Ethereum as markets turn red – Details appeared on BitcoinEthereumNews.com.

While most of the crypto market is reacting nervously to every small price drop, Tom Lee and his team at BitMine Immersion Technologies are thinking long-term. On 18 February, Lookonchain data revealed that BitMine bought 20,000 ETH worth about $39.8 million through BitGo. This happened at a time when many retail investors were trying to exit the market as Ethereum’s [ETH] price fell below $2000.  Source: Lookonchain/X Tom Lee’s BitMine adds more ETH However, instead of seeing this price drop as a danger sign, Tom Lee is treating it as an opportunity. By buying during weakness, BitMine is showing strong confidence in Ethereum’s future. This move also positions BitMine as one of the leaders in the “buy-the-dip” strategy during tough market conditions.  In fact, if looked at carefully, one can see that BitMine is very much in line with Michael Saylor and Strategy’s Bitcoin [BTC] buying approach. BitMine’s recent purchase is not a one-time move either. It is part of a strong and steady buying strategy. Less than a day ago, the company had also revealed that it bought 45,759 ETH in a single week. Because of this fast pace, Tom Lee’s firm has now reached about 72% of its “Alchemy of 5%” goal, which means it wants to control 5% of Ethereum’s total supply. Other ETH-focused firms and their performances BitMine is not alone in using its balance sheet to invest heavily in Ethereum. Other companies like SharpLink and GameSquare are also building large ETH reserves. SharpLink holds about 864,840 ETH, while GameSquare holds around 15,630 ETH. Despite this aggressive buying spreee, their stock prices have dropped sharply in recent weeks. For instance, while GAME fell by over 31% over the past month, SBET registered losses of over 33% over the same time period. This could imply that investors…

---

Filed under: News - @ February 20, 2026 10:23 am