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Tom Lee, CEO of BitMine, describes the current downturn in the crypto market as a "mini crypto winter" and argues that this period is nearing its end.
According to Lee:
The Ethereum price may be nearing its bottom
The bottom region could be around $1,700
Then the market may enter a recovery phase.
This approach forms the main rationale behind the company's aggressive buying during downturns.
Ethereum Price and Institutional Demand
BitMine's buying move occurred during a period when Ethereum was retesting the psychological $2,000 level.
This contains two important signals:
1️⃣ Institutional investors may think the price is in the bottom region
2️⃣ Large-scale purchases have the potential to create a supply shock in the market
According to some analysts, such accumulation movements could support Ethereum's long-term valuation. The Rise of the Institutional Crypto Accumulation Model
BitMine's strategy is part of a new trend that has emerged in recent years:
The "Crypto Treasury Company" model
In this model, companies:
hold crypto as a balance sheet asset
generate income through staking or yield mechanisms
turn company shares into indirect crypto investment instruments
This strategy was previously applied especially on the Bitcoin side, and now it seems to be starting to become institutionalized on the Ethereum side.
$ETH
BitMine's strategy isn't limited to just buying crypto; the company positions Ethereum as an institutional treasury asset. The key components of the company's ETH strategy are:
1) Long-Term Accumulation
The company accelerated its Ethereum accumulation by increasing its weekly purchases. While the average purchase volume was 45,000–50,000 ETH in previous weeks, this figure exceeded 60,000 ETH in the last week.
2) Staking Revenue
Approximately 3.04 million of BitMine's ETH is used for staking. Thanks to these staking activities, the company is estimated to generate:
approximately $174 million in annual staking revenue,
and this could reach up to $259 million when all assets are staked.
3) Infrastructure Plan in the Ethereum Ecosystem
The company also aims to launch its validator infrastructure called "Made in America Validator Network (MAVAN)" in 2026.
#BitMineAddsOver60KETHLastWeek