Retail traders may be panicking over Ether prices today, but Tom Lee’s BitMine Immersion Technologies remains optimistic. The company announced that it has acquired 102,259 ETH, valued at over $300 million in just one week.

“Tom Lee still has $1 billion in cash. Will he keep buying the dip?” asked Arkham Intelligence.

Lee Maintains a Positive Outlook on Ether

Tom Lee commented: “Crypto prices have stabilized in the previous week, indicating that they may be recovering from the sharp decline experienced on October 10th.” However, this statement was made prior to another market crash yesterday.

Currently, BitMine possesses around 3.97 million ETH, equivalent to roughly 3.2% of the total supply, estimated to be worth about $11.6 billion. Additionally, it holds 193 BTC, worth $16.5 million, along with $1 billion in liquid cash.

“This will be the ‘best-in-class’ solution offering secure staking infrastructure, set to be deployed in early calendar 2026,” said Tom Lee regarding their staking solution, known as The Made in America Validator Network (MAVAN).

Speaking on CNBC this past Monday, Lee expressed concerns about the quantum threat and the significant deleveraging event in October but maintained a strong conviction in the promising future of crypto.

“The U.S. government has implemented regulations favorable to crypto, and Wall Street is clearly interested in developing blockchain-based products. The visibility is strong, but price levels remain uncertain,” he concluded.

Lee emphasized that the best years for crypto are yet to come.

Ether Price Challenges

Lee’s remarks surfaced just before Ether prices dipped below $3,000 during late trading on Monday, briefly dropping below $2,900 in early Asian trading on Tuesday, marking its lowest since the previous leverage flush on December 2. Currently, Ether is down 41% from its all-time high, and the downward trend seems to persist despite the fundamentally positive outlook for the network and asset.