BitMine Immersion Technologies acquired over 54,000 ETH valued at approximately $173 million last week, increasing its total Ethereum holdings to nearly 3.6 million tokens and cash reserves to $607 million. Chairman Thomas Lee linked current crypto price weakness to a sharp drop in market liquidity after the October 10 crash, likening it to ‘quantitative tightening’ in crypto assets. Despite a 2.6% drop in BMNR shares, Lee expects the cycle’s peak to occur in 2026 or later, citing asset tokenization on Ethereum as a major future growth driver.