Tom Lee stated that the mini Crypto Winter is receding, and ETH has reached 77% of its target.

According to Mars Finance, Tom Lee, Chairman of Bitmine Immersion Technologies, stated that the mini Crypto Winter affecting ETH is ending, and the company has maintained a high buying pace over the past three weeks. Lee pointed out that the progress of the CLARITY bill in Congress and the relative stability of the crypto market amidst the turmoil in Iran are positive signs. ETH has risen 18% since the Iran war, outperforming the stock market by 2450 basis points, while gold has fallen by more than 15% during the same period. Bitmine purchased another 65,341 ETH last week, worth approximately $139 million, bringing its total holdings to over 4.6 million ETH, representing approximately 3.86% of the total circulating supply of ETH. To reach its 5% target, it needs to purchase approximately 1.4 million ETH, which at current prices would require approximately $2.9 billion. Currently, the company has over 3 million ETH staked. Bitmine also holds $1.1 billion in cash, 196 BTC, a $200 million investment in Beast Industries, and a $95 million investment in Eightco Holdings. According to StrategicEthReserve, Bitmine ranks first among 67 large ETH holders, SharpLink Gaming ranks second with 863,000 ETH, and Ether Machine ranks third with 496,000 ETH.