BitMine increased holdings by 60,976 ETH last week, Tom Lee reiterates that the current phase is the "final stage of the bear market."

Mars Finance News, March 9 — According to official sources, Bitmine announced today that the total value of its cryptocurrency holdings, cash, and “high-risk, high-reward investment projects” amounts to $10.3 billion. As of 4:00 PM Eastern Time on March 8, 2026, the company’s crypto assets include:

• 4,534,563 ETH
• 195 Bitcoin
• $200 million in Beast Industries equity
• $14 million in Eightco Holdings equity
• Total cash of $1.2 billion

Bitmine Executive Chairman Thomas “Tom” Lee stated: “This week, amid concerns over war and soaring oil prices, Ethereum’s price has shown resilience. We continue to believe that crypto prices are in the late or final stage of a ‘mini crypto winter.’”

He cited analysis from Bitmine advisor Tom DeMark, indicating that ETH price movements are highly correlated with the S&P 500 index in fall 2011 and fall 1987 (correlations of 89% and 93%, respectively). If this analogy holds, ETH prices are expected to bottom between March 8 and 14, slightly below the recent low of $1,740.

Lee revealed that over the past week, Bitmine accelerated its ETH accumulation, adding 60,976 ETH, exceeding the previous weekly average of 45,000 to 50,000 ETH. “As the saying goes, no one rings the bell at the bottom, so Bitmine’s strategy is to slightly speed up accumulation.”

As of March 8, Bitmine’s staked ETH totaled 3,040,483, worth $6 billion, accounting for 67% of its total holdings.