BitMine Weekly Whale Accumulates Over 40,000 ETH, Tom Lee Predicts an Imminent V-Shaped Rebound?

As the market is generally filled with concerns over regulation and high leverage risks, the crypto market is playing out a drama of institutional disagreement and consensus.

On one hand, Federal Reserve officials have pointed out that risk adjustments for large institutions may be one of the reasons for recent sell-offs; on the other hand, institutional giants represented by BitMine are accumulating assets at their largest scale in history during a price dip.

Institutional Bets: Ignoring Unrealized Losses, BitMine’s Aggressive Accumulation Strategy

While global investors hold their breath, BitMine Immersion Technologies (NYSE AMERICAN: BMNR) is making clear moves. This leading Ethereum “treasury” company worldwide is executing an almost frenzied asset accumulation plan.

Data shows that as of February 8, 2026, BitMine increased its ETH holdings by 40,613 coins over the past week, bringing its total to an astonishing 4,325,738 ETH, approximately 3.58% of Ethereum’s total circulating supply.

This continues the company’s ongoing acquisitions since the start of 2026. Just a week earlier (February 1), the company announced an increase of 41,788 ETH. These two public increases involved nearly $200 million.

Behind this investment is the core philosophy of the company’s Executive Chairman Tom Lee: “We believe this correction is attractive because the fundamentals are strengthening. In our view, ETH’s price does not reflect its high utility and its role as the financial future.”

V-Shaped Rebound: Surprising Forecast Supported by Tom Lee’s Historical Data

Faced with Ethereum’s price dropping 62% from its 2025 high, Tom Lee’s prediction appears particularly bold. His forecast of a “V-shaped recovery” is not wishful thinking but based on an in-depth review of historical patterns.

Lee points out that since 2018, ETH has experienced eight retracements of over 50%. Each time, the price has rebounded in a typical “V” shape, quickly recouping losses.

He specifically mentions the 2025 precedent: from January to March of that year, ETH’s price plummeted 64%, but later in the year, it surged from $1,600 to $5,000. Lee believes the current market situation is similar, with the sharp decline more like a “springboard” to clear excessive leverage and reset sentiment rather than a structural damage.

Supporting his confidence are seemingly contradictory yet crucial fundamental data: while prices fell, Ethereum’s daily transaction volume hit a record high of 2.5 million transactions, and active addresses soared to a peak of 1 million in 2026. This indicates that network usage and health are not declining with the price but are actually strengthening.

Market Divergence: Regulatory Concerns vs. Institutional Confidence

Tom Lee’s optimistic V-shaped rebound theory contrasts sharply with the cautious attitude of some market participants.

Federal Reserve Board member Christopher Waller recently pointed out that the crypto boom following the U.S. elections may be waning. He believes that many sell-offs stem from companies entering the crypto market from mainstream finance to adjust their risk positions. This view reflects the increasingly close and mutually influencing relationship between traditional financial markets and crypto markets.

However, another powerful force is coalescing. At the recent Liquidity 2026 Global Digital Asset Institutional Summit in Hong Kong, a clear consensus emerged: crypto assets are being redefined as an asset class that must be incorporated into portfolio management, rather than an alternative market outside traditional finance.

Industry leaders observe that institutional capital is shifting from narrative-driven speculation to core assets with genuine demand and predictable regulation. Ethereum, with its central role in DeFi, stablecoins, and institutional-grade applications, is undoubtedly a major beneficiary of this trend.

Deep Deployment: Beyond Holdings for “Alpha” Yield Strategies

BitMine’s strategy goes far beyond “buy and hold.” Through large-scale staking, the company is transforming its massive ETH holdings into income-generating assets.

As of early February, BitMine has staked 2,897,459 ETH (about 67% of its total holdings). With a compounded staking rate of 2.81%, this staked amount could generate up to $374 million annually, or over $1 million daily.

This provides BitMine with a strong financial buffer, allowing it to partially offset market downturns through staking yields even during price volatility. The company also plans to launch its own “Made in America Validator Network” (MAVAN) in Q1 2026, aiming to provide safer, scalable staking infrastructure and further solidify its leadership in this field.

Looking Ahead: Key Catalysts for the V-Shaped Rebound and Opportunities for Gate Users

For traders closely monitoring market trends, understanding the logic behind institutional moves is crucial. The key catalyst for Tom Lee’s predicted V-shaped rebound may come from a combination of macroeconomic improvements and milestone events in crypto.

On one hand, the genuine demand for Ethereum’s network usage (such as tokenized RWA and on-chain settlement) is replacing speculative narratives and forming the foundation of long-term value. On the other hand, upcoming network upgrades like Glamsterdam will introduce structural improvements, potentially establishing a long-term price bottom.

For users trading and investing on the Gate platform, the current divergence between institutional “greed” and the market’s “fear” offers a unique observation window. History shows that when institutions like BitMine, with top-tier research capabilities, continue to accumulate despite significant unrealized losses, it often signals that the market is in a critical long-term value zone.

Summary

While Tom Lee advocates publicly that “the current trend fully aligns with a V-shaped recovery,” BitMine’s balance sheet is quietly changing. With each additional ETH it holds, its control over Ethereum’s supply increases, steadily progressing toward its “control of 5% of the supply” goal.

Meanwhile, BitMine’s stock (BMNR) trades with a daily volume of up to $1 billion, ranking as the 105th most active stock in the U.S., demonstrating that despite substantial unrealized losses on its portfolio, the market remains highly attentive and liquid, supporting its long-term strategic outlook.