BitMine buys another 50,000 ETH, Tom Lee says the market will reverse in March
Wall Street whale Tom Lee recently told CNBC that despite war news causing investor anxiety, he expects the U.S. stock market to reverse upward in March. The rally will be led by the MAG7 giants, software stocks $IGV, and cryptocurrencies BTC and ETH. He also mentioned that his Ethereum reserve company, BitMine, continues to buy ETH and stake it, projecting an annual yield of $253 million.
BitMine Continues Buying ETH
Yesterday, BitMine disclosed its latest cryptocurrency holdings. As of March 1, the assets valued at $9.9 billion include:
- 4,473,587 ETH
- 195 Bitcoin
- $14 million in Eightco Holdings stock (ORBS)
- $200 million in Beast Industries shares
- $868 million in unallocated cash
Over the past week, BitMine purchased 50,928 ETH, accounting for 3.71% of the total Ethereum supply, reaching 74% of the “5% alchemy” target.
Mini Crypto Winter Nearing End
Chairman Tom Lee stated:
“As we gradually move through the late stage of this ‘mini crypto winter,’ BitMine will continue to execute our Ethereum treasury strategy methodically. In recent days, geopolitical uncertainty has increased due to U.S. military actions against Iran, impacting financial and digital asset markets in the coming weeks. We will keep steadily buying ETH and optimizing the returns on our ETH holdings.”
Tom Lee believes this correction is highly attractive, which is why BitMine has been buying ETH, as its price does not reflect its high utility and its role as a future financial development direction.
ETH Staking Annual Yield Reaches 2.86%, Potentially $253 Million Per Year
As of March 1, 2026, BitMine’s total staked ETH amounts to 3,040,483 ETH. If fully staked (currently only 68%), the annual yield from ETH staking could reach $253 million, with an annualized return of approximately 2.86%.
U.S. Stock Market Expected to Rebound in March
In a recent CNBC interview, Tom Lee said that although war news caused market sell-offs this week, fundamentals will eventually return. He predicts that the U.S. stock market will reverse upward in March, led by the MAG7 giants, software stocks $IGV, and cryptocurrencies BTC and ETH.
This article about BitMine buying an additional 50,000 ETH and Tom Lee’s prediction of a market reversal in March was first published on Chain News ABMedia.
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