In a recent CNBC interview , Wall Street bull Tom Lee stated that despite the unsettling news of the war, he anticipates a rebound in the US stock market in March. He expects the MAG7 (Magic Seven), software stock $IGV, and cryptocurrencies BTC and ETH to lead the rally. BitMine, the Ethereum reserve company he chairs, has been consistently buying Ether and staking its ETH, projecting an annual return of $253 million.
BitMine continues to buy ETH
BitMine disclosed its latest cryptocurrency holdings yesterday. As of March 1, BitMine held assets worth $9.9 billion, including:
- 4,473,587 ETH
- 195 Bitcoins
- $14 million worth of Eightco Holdings stock (ORBS)
- $200 million worth of Beast Industries shares
- $868 million in undistributed cash
In the past week, BitMine acquired 50,928 ETH , bringing its holdings to 3.71% of the total Ethereum supply, and 74% of its "5% alchemy" goal has been achieved.
The mini-crypto winter is coming to an end.
Chairman Tom Lee stated:
"As we gradually navigate through the later stages of this 'mini-crypto winter,' BitMine will continue to execute our Ethereum vault strategy methodically. The geopolitical uncertainty has escalated in the past few days with the US military action against Iran, and financial and digital asset markets will be impacted in the coming weeks. We will continue to steadily buy ETH and optimize the returns on our ETH holdings."
Tom Lee believes this pullback is very attractive, which is why BitMine has been buying Ethereum, as its price does not reflect its high utility and its position as the future of finance.
The annualized return on ETH staking is 2.86%, which could generate $253 million annually.
As of March 1, 2026, BitMine had a total of 3,040,483 ETH staked. If all of them were staked (currently only 68% is staked), the annual return on ETH staking could reach $253 million, with an annualized return of approximately 2.86%.
US stocks are expected to reverse course and rise in March.
In a recent CNBC interview, Tom Lee stated that while war news has unsettled investors and caused selling pressure in the market this week, the market will subsequently return to fundamentals. He anticipates a reversal in the US stock market in March, led by the MAG7, software stocks, and cryptocurrencies BTC and ETH.
This article, "BitMine Buys Another 50,000 ETH, Tom Lee Says March Market Reversal Imminent," first appeared on ABMedia, a ABMedia .
