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Tom Lee, Chairman of BitMine Immersion Technologies, said in a CNBC interview on January 10 that Ethereum (ETH) has likely completed its price correction, signaling what he believes could be a major market turning point.
BitMine Immersion Technologies Chairman Tom Lee said Ethereum has bottomed—and his firm is aggressively buying as a result. https://t.co/gX4TDCCfHP
— Decrypt (@DecryptMedia) December 10, 2025
“ETH will probably bottom out this week,” Lee said, suggesting renewed bullish momentum after recent volatility.
BitMine is widely known as one of the largest corporate holders of ETH and has been aggressively accumulating during market downturns.
Over USD 635 Million in ETH Accumulated in Weeks
According to BitMine’s official disclosures, the company now holds 3.56 million ETH, valued at roughly USD 7.5 billion at current market prices.
BitMine made several substantial purchases during the recent dip:
- USD 435 million worth of ETH in the first week of December
- USD 200 million allocated on November 24
- An additional 4,871 ETH purchased on December 9
In total, the company has accumulated over USD 635 million in ETH within a short timeframe.
These purchases came immediately after ETH briefly fell to USD 4,313. Following Lee’s comments, ETH rebounded to USD 4,430.
BitMine’s stock has surged 286% year-to-date, and the company plans to issue a shareholder dividend on December 29, which is an unusual move for a crypto-focused firm.
Lee Favors ETH Over BTC for the Next 10–15 Years
Lee emphasized a long-term preference for Ethereum over Bitcoin, projecting stronger multi-year performance for ETH.
He cited key reasons:
- The value locked on Ethereum relative to market cap is nearing the 50% threshold often considered a bottom indicator.
- The ETH/BTC price ratio is near 0.032, well below its eight-year average.
- A return to historical ratio levels could push ETH toward USD 12,000, according to Lee’s analysis.
Lee compared the current macro environment to 1971, when the U.S. abandoned the gold standard, arguing that another major structural shift in global finance may be unfolding.
He also noted that expectations of Federal Reserve rate cuts are boosting risk assets such as crypto.
Additionally, Lee said the market has been recovering for more than eight weeks since the “October liquidation shock,” and conditions are shifting back toward fundamentals-driven trading.
