'Attractive Opportunity': Tom Lee's BitMine Adds $151 Million in Ethereum Amid Price Dip
Key takeaways
- “We view the recent pullback of ETH to below $2,200 as an attractive opportunity,” said BitMine Chairman Tom Lee in a statement.
- But ETH did not bloom over the course of the last week, instead dropping more than 9% over that time to trade hands around $2,108 on Monday morning.
- Shares in the firm are now trading around $18.80, down 18% in the last month and nearly 42% in the last six months.
'Attractive Opportunity': Tom Lee's Bit Mine Adds $151 Million in Ethereum Amid Price Dip Logan Hitchcock Mon, May 18, 2026 at 10:16 PM GMT+7 2 min read BMNR ETH-USD Bit Mine Immersion Technologies (BMNR) felt that the falling price of Ethereum was too compelling to ignore, adding $151 million worth, or 71,672 ETH last week as the price of the second-largest cryptocurrency slipped below $2,200.
The firm’s latest weekly addition comes just one week after it telegraphed a slowdown in its ETH purchases, scaling back last week to add only $62 million worth to its stash, which now sits at nearly 5.28 million ETH—or about $11.1 billion worth.
“We view the recent pullback of ETH to below $2,200 as an attractive opportunity,” said BitMine Chairman Tom Lee in a statement. (Disclaimer: Lee is an investor in Dastan, the parent company of an editorially independent Decrypt.)