Bitminne, which buys Ethereum every week, made its classic ETH purchase this week as well.
According to the official announcement, Bitmine, the largest institutional holder of ETH, announced last week that it purchased 40,613 Ethereum worth $82.85 million.
The company stated in its announcement that it currently holds 4,325,738 ETH, worth $8.82 billion.
The average cost was approximately $3,847, and as of February 8, 2026, Bitmine had a total of 2,897,459 ETH staked.
As of February 8, 2026, Bitmine’s assets were listed as follows: “4,325,738 ETH – 193 Bitcoin (BTC) – $200 million worth of Beast Industries shares – $19 million worth of Eightco Holdings shares (Nasdaq: ORBS) and $595 million in cash.”
A Sharp Recovery is Expected in Ethereum!
Bitmine CEO Tom Lee acknowledged that Ethereum had experienced a very large drop, but stated that he expected a very sharp rebound.
“Ethereum has fallen 62% from its 2025 peak, but Ethereum’s daily transaction volume has reached a record high of 2.5 million, and the number of daily active addresses in 2026 has risen to an all-time high of 1 million.”
In fact, this is the 8th time since 2018 that ETH has fallen by 50% or more from its last peak.
So these kinds of declines happen almost every year. Between January and March 2025, ETH fell.”
Citing Ethereum’s decline in early 2025 as an example, Lee said, “After experiencing a 64% drop, ETH bounced from $1,600 to $5,000 later that same year.”
Lee noted that Ethereum typically experiences a “V”-shaped recovery after very large drops, stating, “The V-shaped recovery pattern has been valid in all eight previous examples where drops exceeding 50% occurred. Currently, with ETH down 62%, a similar recovery is expected in 2026.”
Finally, according to Lee, the best investment opportunities often come after a downturn. Looking at 2025, the best entry point into the market came immediately after a sharp decline linked to tariff concerns.
*This is not investment advice.
