Bitmine Immersion Technologies reportedly acquired another 40,000 Ethereum late Monday, following an earlier disclosure of 40,000 ETH added over the past week.
- On-chain data suggests the latest transaction totaled approximately $83.4 million.
- BMNR’s stock declined in after-hours trading after rising during the regular session.
- Executive chairman Tom Lee anticipates a ‘V-shaped’ recovery for Ethereum’s price, reiterating that the altcoin will hit a fresh record high in 2026.
Tom Lee-backed Bitmine Immersion Technologies (BMNR) continued adding to its Ethereum holdings Monday night, reportedly acquiring another 40,000 ETH after disclosing earlier in the day that it had already added 40,000 ETH over the past week.
BMNR’s stock fell 1.35% after hours, following a gain of 4.79% in the regular session. On Stocktwits, retail sentiment around the company remained in ‘bearish’ territory amid ‘high’ levels of chatter over the past day.
According to data on Arkham Intelligence, spotted by LookOnChain, Bitmine added 40,000 Ethereum for $83.4 million on Monday. This comes after Bitmine announced that its treasury holdings, with also include its ‘moon shot’ bets on Beast Industries and Eightco Holdings (ORBS), cash and small amount of Bitcoin (BTC), in addition to its primary reserve asset of Ethereum, has crossed $10 billion in value.
Tom Lee Expects Ethereum To Recover In 2026
The move follows comments from executive chairman Tom Lee on Monday who reiterated his bullish stance on Ethereum, and noted that the ETH’s price is likely to stage a comeback after its most recent drawdown.
"ETH sees V-shaped recoveries from major lows,” he said in a statement. “This happened in each of the 8 prior declines of 50% or more. A similar recovery is expected in 2026.” Lee added that such dips are the “best investment opportunities in crypto.”
Ethereum’s price continued to hold ground above the $2,000 mark on Monday night, down 1.8% in the last 24 hours. On Stocktwits, retail sentiment around the leading altcoin trended in ‘bullish’ territory with chatter at ‘high’ levels over the past day.
What Is Retail Saying?
One user on Stocktwits predicted that if BMNR continues to pick up Ethereum at its current rate, the company is likely to meet its goal of accumulating 5% of the cryptocurrency’s circulating supply by October this year.
Another said Lee’s “V-shape recovery” prediction will likely lead to new record highs for BMNR’s stock.
BMNR’s stock has fallen 23% so far this year, but has more than quadrupled in value over the past 12 months.
Read also: Cathie Wood’s ARK Adds Bullish Shares After Peter Thiel–Backed Crypto Exchange Jumps 16%
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