Crypto

BitMine Stock Skyrockets as Tom Lee's Ethereum DCA Strategy Takes Off

Guavy AI Editorial Team Published August 23, 2026

Instruments

BTC ETH

BitMine Immersion's stock has surged to its highest level since May this year as Tom Lee's dollar-cost-averaging strategy on Ethereum begins to pay off. Shares of BitMine (NYSE:BMNR) jumped to $22.83, a nearly 80% increase from their lowest point this year.

Lee started using the aggressive DCA strategy in July last year, buying Ethereum tokens as their price plummeted. The company now has 5.815 million tokens on its balance sheet and has purchased nearly 38,000 coins over the past 30 days.

Ethereum's price has also rebounded to $2,550, its highest level since January this year, with a 65% increase from its lowest point this year. This surge in Ethereum's price is attributed to the ongoing crypto market rally, which has pushed Bitcoin and other tokens higher.

BitMine Stock Skyrockets as Tom Lee's Ethereum DCA Strategy Takes Off

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