Bitcoin on the Brink: Range-Bound Price, Bearish Signals, and a Breakout Level to Watch at USD 72,500 
Under the direction of well-known cryptocurrency bull Tom Lee, BitMine Immersion Technologies (BMNR) revealed another strong Ethereum acquisition last week (announced February 9, 2026), buying above 40,000 ETH even as the company's unrealized losses on its assets topped $7.5 billion. BitMine's high-conviction "buy-the-dip" strategy is strengthened by this move, with the company seeing Ethereum's strong long-term fundamentals in decentralized finance and institutional adoption as profoundly underestimated in the $2,100–$2,400 range.
The most recent purchase is consistent with a pattern of continuous accumulation. BitMine, the largest single purchase of the year at about $116 million, obtained 40,302 ETH in the week of January 26, 2026, bringing total holdings to 4,243,338 ETH worth almost $12.2 billion at that point. Among earlier important purchases were a $200 million one made in November 2025 that brought its stake to around 3% of Ethereum's total supply. Through steady weekly purchases mostly supported by equity capital raises, the corporation is still dedicated to its ambitious aim of ultimately controlling 5% of ETH supply.
Even though BMNR's stock value fell around 80% from its highs, BitMine has a varied portfolio that includes modest Bitcoin holdings, nearly $1 billion in cash reserves, and about one-third of its ETH stash actively staked, generating an estimated $400 million in yearly yield. Projecting an ETH recovery to $10,000–$12,000 as the network emerges from what he characterizes as a "mini crypto winter," Tom Lee stays strongly bullish, thereby positioning the company's large position as a high-risk, high-reward bet on Ethereum's future dominance.
