BitMine defies the crash with a new massive purchase of Ethereum

There has been no parachute for the crypto market in recent weeks. Digital assets have plummeted rapidly, hitting the floor of a strong bearish cycle. Yet, while some crypto traders emptied their bags in panic, the whales are smiling. For these blockchain giants, every drop is a bargain. And among the most voracious, one stands out by its undiminished appetite: BitMine. Despite losses, despite the storm, the company has just made a striking comeback on the Ethereum scene.

Ethereum at bargain prices: BitMine accumulates while others capitulate

On February 7, the blockchain recorded a movement that raised some eyebrows. BitMine, the company led by Tom Lee, acquired 20,000 ETH for nearly 42 million dollars. Not at the market peak, no. In full slide, as Ethereum lost up to 40% in 10 days, reaching its lowest levels since May 2025.

For Lee, it’s just another cycle in the crypto industry story. He insists and signs: “Ethereum is the future of finance“. And volatility is not a flaw in the system, it’s its DNA.

In fact, this strategy aims to make BitMine the first corporate player to hold 5% of the total Ethereum supply. With already 4.29 million ETH, about 3.5% of the circulating supply, the goal is nearly reached. While the market screams disaster, BitMine anchors itself deeper in the ecosystem.

Tom Lee bets on financial independence rather than leverage

While many in the crypto sphere have been trapped by leverage, BitMine plays a different tune. Zero debt. 586 million dollars in cash. 2.9 million ETH staked yielding 2.81%. These are the basics of their defensive, yet ambitious strategy.

Tom Lee, again, boldly summarizes the group’s philosophy:

Therefore, BitMine is able to weather the crypto market volatility while generating recurring income through staking. There is no pressure to sell ETH at these levels, as there are no debt clauses or other restrictions or obligations.

This is where BitMine’s uniqueness lies: a self-financed cash approach, no leverage or forced dilution. When others sell to breathe, BitMine withstands. Their choice to avoid bonds places them against the tide of industry giants.

BlackRock, for example, has hit records with its IBIT Bitcoin ETF — 10.7 billion dollars traded in a single day, thanks to a strategy fully based on flows and options speculation. An opposite dynamic, but which reveals one thing: the big players are active and determined to weigh in.

BitMine absorbs 8 billion losses and keeps moving forward

BitMine has spent 16.4 billion dollars to build its ETH treasury. Today, this mountain is worth about 8.4 billion, or some 8 billion latent losses. The kind of red lines that make CFOs tremble… except at BitMine.

On X, Tom Lee delivered a thread for both believers and skeptics. He reminds that Ethereum has already fallen 60% or more on 7 occasions since 2018, and that in 2025, the token plunged 64%. The story is thus well known. He calls for patience, strong nerves, to “not rage quit” as so many crypto investors do at every storm.

And while the market cries massacre, BitMine adds to its portfolio, including investments considered risky, such as Orbs or Beast Industries, affiliated with YouTube star Mr Beast. The logic is clear: bet on strong trends, even if it means betting against the crowd.

What to remember in key figures and facts

• 4.29 million ETH held by BitMine (≈ 3.5% of total supply);
• 2.92 million ETH staked generating an annual yield of 2.81%;
• ETH price: 2,092 dollars at the time of writing;
• Record volume on IBIT (BlackRock): 10.7 billion dollars in a single session;
• BitMine’s latent losses on ETH: ≈ 8 billion dollars.

They buy when everyone sells. They pile up ETH as if it were on sale. Ethereum whales don’t beat around the bush. If we observe their recent movements, one thing intrigues: could this accumulation frenzy be the quiet prelude to a price surge? The future will tell… but they have already chosen their side.