Tom Lee Expects a Strong Ethereum Rebound

Bitmine, a company that regularly accumulates Ethereum, made another major purchase this week. According to an official statement, the firm acquired 40,613 ETH worth $82.85 million, further strengthening its position as the world’s largest institutional holder of Ethereum.

The company now holds a total of 4,325,738 ETH, valued at approximately $8.82 billion. The average purchase price was around $3,847 per ETH. As of February 8, 2026, as many as 2,897,459 ETH were allocated to staking.

On the same date, Bitmine’s asset structure also included 193 bitcoins, a $200 million stake in Beast Industries, shares in Eightco Holdings valued at $19 million, and $595 million in cash.

Bitmine CEO Tom Lee commented on the recent downturn in the Ethereum market. He acknowledged that ETH has experienced a very deep correction, but believes current conditions favor a strong rebound. Ethereum is down 62% from its 2025 peak, yet network activity remains at record levels. Daily transaction volume has reached 2.5 million, while the number of active addresses climbed to 1 million in 2026 — the highest level in the network’s history.

Lee noted that since 2018 this marks the eighth time Ethereum has fallen by more than 50% from its most recent high. Such corrections, in his view, occur almost every year. As an example, he pointed to early 2025, when after a 64% drop, ETH later surged from around $1,600 to nearly $5,000 within the same year.

According to Lee, deep sell-offs are typically followed by sharp V-shaped recoveries in Ethereum’s price. This pattern has played out in all eight previous instances. With the current decline standing at 62%, the Bitmine CEO expects a similar scenario to unfold in 2026. He also emphasized that the best investment opportunities often emerge precisely after periods of severe market sell-offs.