BitMine Boosts ETH Holdings by 24,266 Coins, Tom Lee Predicts 2026 Crypto Price Recovery

BitMine Immersion Technologies reported a 24,266 Ethereum (ETH) token increase in its holdings over the past week, bringing its total ETH holdings to 4.168 million tokens, or 3.45% of the total ETH supply according to the report. The company disclosed that its combined holdings of crypto, cash, and "potential project" investments now exceed $14 billion as reported.

BitMine Chairman Thomas "Tom" Lee emphasized that 2026 will see a crypto price recovery driven by stablecoin adoption and asset tokenization, with Ethereum playing a central role in becoming the blockchain settlement layer of Wall Street according to the report. He described the leverage reset in late 2025 as a 'mini crypto winter' and expects stronger gains in 2027–2028.

BitMine also revealed a $73 million cash increase in the same week, with the company maintaining its strategy of issuing equity only at a premium to its adjusted net asset value (mNAV) according to the report. Lee stated that BitMine remains the largest 'fresh money' buyer of ETH globally and anticipates becoming the largest staking provider once MAVAN launches its commercial operations.

Why the Move Happened

BitMine's acquisition of additional ETH is aligned with its broader strategy to grow its holdings in a strategic and capital-efficient manner as reported. The company has selectively issued shares at prices above mNAV, ensuring that its ETH accumulation remains accretive to shareholders according to the report.

Lee highlighted the importance of the company's upcoming shareholder meeting on January 15, 2026, where a proposal to increase the authorized share count will be put to a vote according to the report. The current 500 million share authorization is expected to be exhausted soon, and without an increase, the rate of ETH accumulation will slow as stated.

How Markets Responded

Ethereum's price remains under $3,200, constrained by a resistance zone that has repelled multiple attempts at a breakout according to analysis. Despite this, Ethereum continues to show strong fundamentals, with over $8 trillion in stablecoin transactions recorded in Q4 2025 as reported.

Meanwhile, Morgan Stanley has entered the crypto space with a focus on Ethereum ETFs that include staking rewards according to financial reports. The firm's entry, alongside BlackRock and Grayscale, is expected to stabilize the market and reduce retail-driven volatility as analysts note.

What Analysts Are Watching

Analysts are closely monitoring the regulatory landscape for potential ETF approvals, with institutions advancing steadily through the SEC review process according to market analysis. The regulatory environment is seen as increasingly favorable, and continued inflows into Ethereum ETFs may provide a catalyst for price recovery as reported.

Tom Lee's predictions for 2026 are backed by ongoing improvements in Ethereum's network, including the Dencun and Pectra upgrades, which have enhanced scalability and reduced Layer-2 transaction costs according to financial analysis. These upgrades, combined with the deflationary mechanics of EIP-1559, are expected to further support the cryptocurrency's value proposition as market data indicates.