BitMine is sweeping up 60,000 ETH! Tom Lee confidently states: "The mini crypto winter" is coming to an end.

According to an announcement released on Monday, Bitmine Immersion Technologies (NASDAQ: BMNR) aggressively purchased 60,976 ETH last week, worth approximately $120 million. As Chairman Tom Lee bets that the crypto “mini winter” is nearing its end, Bitmine’s accumulation pace has also accelerated across the board, injecting a boost into the sluggish market sentiment.

Notably, this purchase marks the largest scale increase for the year, with the company’s ETH holdings surpassing 4.5 million, valued at over $9 billion.

Despite the crypto market being shrouded in a bearish atmosphere, Bitmine continues to adhere to its “buy the dip” strategy, aggressively bottom-fishing. According to DropsTab estimates, Bitmine’s ETH position currently faces an unrealized loss (floating loss) of up to $7.8 billion.

Addressing external concerns, “Wall Street wizard” and Bitmine Chairman Tom Lee stated that multiple market signals suggest a “bottom is forming.” The company has decided to increase its buying power, raising its recent weekly purchase volume from around 45,000 to 50,000 ETH. He said:

We firmly believe that cryptocurrency prices are entering the tail end or final stage of this “mini crypto winter.”

There’s an old saying on Wall Street: no one rings a bell to signal the market bottom. Therefore, Bitmine’s strategy is to accelerate its accumulation of ETH.

Additionally, Bitmine revealed that it has staked over 3 million ETH, generating annual revenue of $174 million. If all its holdings are staked in the future, the estimated annual yield could reach $259 million.

Tom Lee urges investors: Stop worrying about finding the “bottom,” now is the time to “buy the dip.”