According to CoinMeta, Tom Lee, the chairman of Bitmine, stated that the crypto market has entered a bull cycle. In the first nine months of 2026, the price of ETH fell by 10%, while BMNR only fell by 3%, achieving a relative outperformance of 7.31 percentage points. In addition, Bitmine has implemented a corporate treasury stock repurchase plan, aiming to repurchase 21 million shares of BMNR in 2026. Since the third quarter of 2026, ETH has outperformed the S&P 500 index by 6832 basis points, leading other major macro assets under macroeconomic pressures.