Tom Lee: The cryptocurrency market has entered a bull market cycle, and BMNR has outperformed ETH in the first 9 months of this year

According to PRNewswire, Tom Lee, Chairman of the Ethereum treasury company Bitmine, stated that as the cryptocurrency market enters what he believes to be a bull market cycle, the performance of Bitmine (BMNR) stock price during the bear market period from 2025 to 2026 is noteworthy compared to Ethereum (ETH).

In the first nine months of 2026, the ETH price fell by 10%, while BMNR only dropped by 3%, achieving a relative outperformance of approximately 731 basis points (7.31 percentage points). The stock price performance of BMNR reflects the company's commitment to continuously optimizing shareholder returns, which includes executing the largest corporate treasury stock buyback program in the cryptocurrency industry, repurchasing 21 million shares in 2026 alone.

Additionally, Tom Lee pointed out that from the third quarter of 2026 to the present, ETH has outperformed the S&P 500 index by 6832 basis points. Despite macro pressures such as a hawkish stance from the Federal Reserve, rising oil prices, increasing global bond yields, and tightening financial conditions, ETH has still demonstrated strong performance, leading other major macro assets.