Bitmine buys the dip again! Tom Lee is optimistic about Ethereum with "three major bullish factors" supporting it

According to an announcement released on Monday, Bitmine Immersion Technologies (NYSE: BMNR) increased its holdings by 51,162 ETH last week, bringing the total to 4.42 million ETH, accounting for 3.66% of the total ETH supply.
At a price of $1,958 per ETH, the total value of Bitmine’s ETH holdings is approximately $8.7 billion, solidifying its position as the “largest publicly traded company holding ETH” and ranking as the second-largest crypto reserve company globally, after Strategy.
It is noteworthy that Bitmine’s large-scale accumulation coincides with what Chairman Tom Lee calls a “mini crypto winter.” In a statement, he said:

Given the continued strength of Ethereum’s fundamentals, we believe this correction is attractive, and we have been steadily buying ETH. In our view, the current market price does not reflect ETH’s high utility or its role as the future financial backbone.

Tom Lee stated that despite short-term market pressure, ETH still has three major bullish factors continuing to develop: the Wall Street tokenization wave, increasing reliance on smart contracts for AI applications, and the creator economy shifting toward blockchain-based verification methods.
Bitmine’s strategy is not merely “HODLing,” but pursuing asset productivity. The report shows that about 68.7% (approximately 3.04 million ETH) of its holdings are staked.
With a staking yield of 2.89%, this staked amount could generate about $171 million in passive income annually for Bitmine. The company plans to launch its own “U.S. Validator Network (MAVAN)” infrastructure this quarter. Once all ETH is staked, the annualized return could reach $249 million.
Tom Lee added that Bitmine has already partnered with three staking service providers to prepare for the MAVAN launch.