Bitmine increased its holdings by 71,179 ETH last week. Tom Lee stated that the crypto bear market may end when the upside risk of oil prices peaks.

BlockBeats message, March 30. Bitmine announced today that, as of 6:00 p.m. on March 29, 2026, Eastern Time in the United States, the company’s cryptocurrency holdings, cash, and the “Moon Project” (high-risk, high-reward investment) combined total value reached $10.7 billion. Specific holdings include:

· 4,732,082 ETH · 197 BTC · a $200 million investment in Beast Industries · a $102 million investment in Eightco Holdings (Nasdaq ticker: ORBS) · and $961 million in cash.

Bitmine Chairman Tom Lee said: “As the Iran war enters its fifth week, the performance of ETH and cryptocurrencies has outperformed the broader market, with ETH’s performance coming in 1160 basis points higher than stocks. This stands in sharp contrast to traditional value-storing tools like gold, whose performance lagged by more than 750 basis points. Cryptocurrencies are proving themselves to be a solid ‘wartime’ value storage tool.”

Li added: “The negative correlation between cryptocurrencies (and stocks) and oil has been increasing, and it has now reached the highest level in the past year. This is logical. Before investors in the stock market feel comfortable about the future trajectory of oil prices, rising oil prices are a headwind for stocks and cryptocurrencies as well. In a sense, when the upside risk for oil prices tops out, crypto’s deep winter may also be coming to an end.”

Li said: “Bitmine has maintained an accelerated ETH buying pace over the past four weeks, because our fundamental view is that ETH is in the final stage of the ‘mini crypto winter.’ In the past week, we acquired 71,179 ETH, whereas the average weekly acquisition volume before that was 45,000 to 50,000 ETH.”