Bitcoin (BTC) price exceeded $79,000 as US stock markets opened with selling. BitMine announced that it made a massive ETH purchase again last week. So what does the current situation tell us? What are BitMine’s total assets?
BitMine Ethereum Purchase
Bitmine Immersion Technologies (BMNR) purchased 41,788 ETH last week. Thus, their total assets increased to 4,285 million Ether. We have known since June 2025 that the company’s goal is to keep 5% of the ETH supply as reserves. They came pretty close to this goal, and they did it in just 6 months. Bitmine currently holds 3.55% of the ETH token supply, meaning 70% of the target has been completed.
The company has more than $10.7 billion in assets, with 4.285 million ETH tokens and $586 million in cash and other assets. In its announcement today, the company wrote:
“Bitmine leads its crypto treasury competitors with both the speed at which it grows crypto NAV per share and the high trading liquidity of BMNR shares. Bitmine is the 105th most traded stock in the US, with daily trading volume of $1.1 billion (5-day average and continuously trailing).”
Bitmine Chief Executive Officer Tom Lee is hopeful as ever;
“The price of ETH has dropped sharply from ~$3,000 to ~$2,300 in the past month. This drop coincides with Ethereum’s daily transaction volume reaching an all-time high of 2.5 million and active addresses reaching ATH of 1 million per day in 2026. In other words, Ethereum’s on-chain activity and key indicators have grown solidly over the past few months, but the ETH price has fallen.
“During the crypto winter of 2021-2022 or 2018-2019, Ethereum transaction activity and active wallets decreased, a reversal of what we have seen over the last 12 months.” –Tom Lee
So he’s saying they don’t expect bear markets.
“Therefore, the factors explaining the weakness in ETH prices are non-fundamental factors. In our view, the most important factor is that leverage has not yet returned to crypto, while the ripple effect from October 10 continues. The second factor is the increase in precious metal prices, which acts as a ‘vortex’ sucking risk appetite out of crypto. However, gold appears to be closely following the 1979-1980 period. Confirming the January 1980 peak, On January 22, 1980, there was a daily decline of 13%. On January 30, 2026, gold fell 9%, the fourth largest daily decline in its history. Each of the previous three major declines marked a short-term peak.” –Tom Lee
Bitcoin (BTC) Latest Status
After the last major decline, these losses ETF It should be seen as an opportunity by investors. BTC Although it has recovered slightly from $74,000, the failure to recover $82,000 now feeds the concern that we may continue to see lower peaks.
In South Korea, concerns about companies’ artificial intelligence spending triggered AI bubble discussions, this time not on the US front but in Asia. The fact that we are seeing such negativity in the middle of Wall Street’s corporate earnings season is also negative for cryptocurrencies.
$75,839 is the first major support point to hold for now. In order for us to talk about a real comeback of Bitcoin He must earn at least $80,600. To return to the uptrend again, the 93-98 thousand dollar range must be overcome. Looking at the $98,000 resistance tested recently, this seems like a distant possibility, so investors rightfully want to stay on the sidelines and watch what happens.
Meanwhile, US special representative Witkoff and Iranian Foreign Minister Araghchi are expected to meet in Istanbul on Friday and discuss the possible nuclear agreement. A possible agreement could reduce ongoing negativity due to geopolitical risks.
