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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.