Tom Lee’s Bitmine Buys 40,000 ETH Worth $83.4 Million as Market Volatility Persists

• Bitmine buys 40,000 ETH worth $83.4 million as prices stay weak and market leverage continues to fall.

• The purchase lifts Bitmine Ethereum holdings to 4.326 million ETH making it the largest known corporate holder.

• Ethereum rebounds above $2,100 while futures activity stays low showing traders remain cautious despite recovery.

Tom Lee’s Bitmine Immersion Technologies bought another 40,000 ETH worth about $83.4 million on Monday. The purchase came as Ethereum traded near recent lows. The company continued buying despite weak sentiment across crypto markets.

🔥 JUST IN: TOM LEE’S BITMINE BUYS ANOTHER 40,000 $ETH WORTH $83.4MILLION pic.twitter.com/Lp4fa9dSoo

— Coin Bureau (@coinbureau) February 10, 2026

This transaction followed a similar purchase made earlier in the week. Tom Lee recently added 20,000 ETH to Bitmine’s ETH holdings. Together, the buys confirmed Bitmine’s aggressive Ethereum accumulation strategy.

Bitmine Expands Ethereum Holdings During Price Decline

Bitmine completed the latest acquisition during a period of heavy market pressure. On-chain data showed the ETH moved from custodial wallets shortly after execution. The firm added the tokens as traders reduced leverage across derivatives markets. This timing highlighted Bitmine’s willingness to buy during drawdowns. The company did not pause accumulation despite falling prices.

After the purchase, Bitmine’s total Ethereum holdings reached about 4.326 million ETH. That figure equals roughly 3.6% of Ethereum’s circulating supply. As a result, Bitmine remains the largest known corporate holder of ETH. The company increased exposure while many market participants stayed defensive. This contrast defined the current market phase.

Ethereum Treasury Strategy Focuses on Long-Term Value

Bitmine continues to treat Ethereum as a long-term treasury asset. The firm does not rely on short-term price movements. Nearly 2.9 million ETH from its holdings remain staked. These assets generate yield through Ethereum infrastructure operations. Staking income supports returns during volatile periods.

In addition, Bitmine holds Bitcoin and sizable cash reserves. Combined crypto and cash assets stand near $10 billion. This structure provides liquidity alongside digital asset exposure. The firm balances risk through diversification across assets. Ethereum remains the center of its strategy.

Market Recovery Meets Cautious Trading Activity

Ethereum rebounded to around $2,100 after a sharp selloff. The asset fell 43% over nine days before reaching a $1,750 low. Afterward, ETH posted a 22% recovery. Bitcoin and equity markets also moved higher during the rebound. Still, derivatives data showed continued caution. Just a few days ago, ETH dropped from $3,700 to Fibonacci support as accumulation and market structure slopes into a downside trend.

Monthly ETH futures traded near a 3% premium over spot prices. This level stayed below neutral market conditions. Meanwhile, futures open interest dropped to $24.1 billion. That marked the lowest level since May 2025. Similar levels in the past appeared near major market turning points.

Despite price pressure, Ethereum network activity remained strong. The base layer accounts for 58% of total value locked across blockchains. When including major layer two networks, that share exceeds 65%. Fee generation also stayed steady over the past month. Bitmine continued buying as these fundamentals remained intact.