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

ChainCatcher news, according to PRNewswire, Tom Lee, chairman of Ethereum treasury company Bitmine, said that as the encryption market enters what he believes to be a bull market cycle, the performance of Bitmine (BMNR) stock prices during the bear market from 2025 to 2026 is worthy of attention. ETH prices fell 10% in the first nine months of 2026, while BMNR fell just 3%, achieving a relative outperformance of approximately 731 basis points (7.31 percentage points). BMNR’s share price performance reflects the company’s continued commitment to optimizing shareholder returns, including executing the crypto industry’s largest corporate treasury stock buyback program, repurchasing 21 million shares in 2026 alone.

In addition, Tom Lee also pointed out that since the third quarter of 2026, ETH has outperformed the S&P 500 Index by 6,832 basis points. Against the background of macro pressures such as the Federal Reserve's hawkish stance, rising oil prices, rising global bond yields, and tightening financial conditions, ETH still showed strong performance, leading other major macro assets.