Crypto & Forex March 10, 2026 0 Comments

Tom Lee’s Bitmine Drops $11M in ETH on Coinbase—Is This the Quiet Power Move That’s About to Shake the Crypto World?

Bitmine Immersion Technologies (BMNR), the Ethereum powerhouse chaired by none other than Fundstrat co-founder Tom Lee, just made a move that’s turning heads — shifting 5,300 ETH worth about $11 million to Coinbase Prime. Now, before you jump to the “Are they selling?” conclusion, think again. Coinbase Prime’s not just any platform; it’s where big players stash, trade, and stake their crypto assets, playing a long game with treasury maneuvers that most folks don’t see coming. Bitmine isn’t new to heavy-hitting strategies — with a towering $10.3 billion portfolio spanning millions of ETH and billions in cash, this move feels less like a shot in the dark and more like the next calculated stake in their Ethereum empire. Could this transfer be a prelude to boosting their staking revenue as they push toward that coveted “Alchemy of 5%” Ethereum theft? And with ETH prices quietly inching higher, you gotta wonder — is Bitmine betting on resilience amid market jitters and oil price chaos? It’s a bold play, and honestly, it’s stuff every investor should be watching closely. LEARN MORE

Bitmine Immersion Technologies (BMNR), the publicly traded Ethereum treasury firm chaired by Fundstrat co-founder Thomas “Tom” Lee, moved 5,300 ETH valued at approximately $11 million to Coinbase Prime today in a move that may signal plans to stake the funds, according to Arkham Intelligence data.

A transfer to Coinbase Prime does not necessarily mean the assets are about to be sold. Coinbase Prime is an institutional platform that provides custody, trading, and staking services, meaning deposits can be tied to a variety of treasury or portfolio management strategies.

Bitmine announced Monday total holdings of $10.3 billion across crypto assets, cash, and venture-style “moonshot” investments, including 4.5 million ETH, 195 BTC, and $1.2 billion in cash.

Over 3 million ETH, worth roughly $6 billion, has been staked, producing major annualized staking revenue as the company advances its MAVAN validator network set for launch in early 2026.

The company now owns approximately 3.8% of Ethereum’s circulating supply and is on track to reach the “Alchemy of 5%” accumulation target.

Le said in a statement that Ethereum showed resilience despite macro uncertainty and rising oil prices. According to him, ETH is closely tracking historical S&P 500 moves in 2011 and 1987, which could indicate a potential bottom between March 8 and March 14 near $1,740.

ETH was hovering around $2,000 at press time, up 3% in the last 24 hours, per CoinGecko.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.