Bitmine Buys 61K ETH as Tom Lee Flags Possible Bottom

Bitmine buys 61000 ETH is the verified headline, not the broader $11.5 billion stash claim: the company said on March 9 that it added 60,976 ETH in the prior week, lifting holdings to 4,534,563 ETH as of March 8, 2026, while adviser Tom Lee said Ethereum could bottom between March 8 and March 14.

60,976 ETH

Bitmine’s press release said the buy took its treasury to 4,534,563 ETH, equal to 3.76% of the stated 120.7 million ETH supply. The same update said 3,040,483 ETH was staked and generating an annualized $174 million in staking revenue.

Bitmine’s Weekly Buy Deepens Its Grip on Ethereum Supply

The scale matters because Bitmine’s prior weekly update on March 2 listed 4,473,587 ETH, a level that lines up with the latest increase of roughly 60,976 ETH. That makes this a measurable acceleration in treasury accumulation rather than a one-off disclosure.

For market readers, the signal is concentration. One corporate buyer now controls nearly 4% of Ethereum’s supply and is still adding, a backdrop that keeps treasury strategy in focus alongside broader crypto risk appetite and stories such as Bitcoin Price Recovery Hits Iran War Era High.

Tom Lee Tied the Purchase Window to a Possible March Bottom

Bitmine attributed the timing directly to Lee’s market view. In the release, he said nobody “rings the bell at the bottom,” and the company said his working thesis was that ETH could bottom between March 8 and March 14, 2026, if historical analogs hold.

That framing does not confirm a reversal, and no independent market dataset was included in the proof set for this run. What is confirmed is that Bitmine said it was increasing the pace of ETH accumulation while leaning into that bottom-window call.

$10.3B

The Verified Treasury Figure Is $10.3 Billion

The company’s March 9 statement valued its total crypto, cash, and “moonshots” holdings at $10.3 billion, not $11.5 billion. That distinction matters because the research brief for this article flagged the higher number as unsupported by the primary source.

Using the company’s own March 8 reference price of $1,965 per ETH keeps the story anchored to disclosed figures rather than headline extrapolation. Secondary coverage matched the token purchase, total holdings, and supply-share figures, reinforcing the narrower and better-supported angle.

Bitmine also pointed to the GENIUS Act and the SEC’s Project Crypto as part of its long-term Ethereum thesis, though the sourced material did not show any separate regulatory trigger behind this week’s purchase. The cleaner read is that Bitmine kept buying into weakness while other crypto headlines, including BlockFills Restructuring Looms After Withdrawal Freeze and Trump-Backed WLFI Sells $5M Access While Pitching Democratized Finance, reflected a market still trading on liquidity, positioning, and policy expectations.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.