BitMine surges with Ethereum's rise and increases its ETH holdings.

• BitMine expands Ethereum reserve in mini crypto winter
• BMNR shares rise as ETH price recovers.
• Tom Lee bets on tokenization and AI in blockchain.

BitMine Immersion Technologies Inc. (NYSEAMERICAN: BMNR) shares rose sharply in pre-market trading on Wednesday, tracking Ethereum's recovery. This move comes after weeks of intense pressure on the cryptocurrency market, during which ETH accumulated losses of nearly 38% in the last month.

The recent positive price reaction has given new life to both the digital asset and companies exposed to the blockchain ecosystem. Crypto trader Don Wedge had already pointed out that Ethereum was positioned in a relevant technical support zone, with two possible outcomes: a recovery from that level or a loss of support before a consistent reversal.

While the market was testing these levels, BitMine adopted an aggressive accumulation stance. The company acquired 51.162 ETH for approximately US$98 million last week. With this, its total reserves reached about 4,4 million ETH, equivalent to approximately 3,66% of the circulating supply of Ethereum.

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The company's president, Tom Lee, defended the strategy even during what he called a "mini crypto winter." According to him, Ethereum's current value does not reflect its practical utility. Lee highlighted three main growth vectors: the tokenization of assets on Wall Street, the use of AI agents integrated into intelligent blockchains, and the expansion of the creative economy with networked registration and verification.

BitMine's movement contrasts with recent transactions by Ethereum co-founder Vitalik Buterin. On-chain data indicates that he sold 3.788,57 ETH, an operation estimated at around US$7,3 million over three days. The divergence between corporate accumulation and individual profit-taking has caught the attention of market participants.

In technical terms, BitMine's shares have accumulated a 273,85% increase in value over the last 12 months. Even so, the stock is trading 42,7% below the 100- and 200-day simple moving averages, which are close to US$35,17 and US$35,16, respectively. The current price also remains far from the 52-week high of US$161,00 and closer to the yearly low of US$3,92.

In the spot market, Ethereum was trading at $1.962,18, up 8% in the last 24 hours, with a market capitalization close to $232 billion. Bitcoin also followed suit, trading at $66.200, with a gain of 5,5% in the same period, reinforcing the improved sentiment in the cryptocurrency market.