Tom Lee Doubles Down on ‘Crypto Spring’ Theory but Bitmine Slows ETH Accumulation

Bitmine Immersion Technologies has slowed the tempo of accumulation of extra ETH, because it’s properly inside its timeframe to succeed in the 5% provide goal this yr.

Nevertheless, its chairman stays extremely bullish on crypto and Ethereum specifically, predicting the top of the bull market and the start of crypto spring.

The new press launch from the agency shows that its complete ETH holdings have risen to five.21 million tokens from 5.18 million final week. This signifies that the agency has purchased roughly 30,000 cash prior to now week, which is a considerable decline from the over 100,000 within the previous few accumulation announcements.

The cause for this, in accordance with chair Tom Lee, is that the earlier tempo of over 100,000 ETH per week “would have us attain 5% by mid-July.” He talks in regards to the share of the asset’s complete provide owned by the corporate he runs, which is now at round 4.3%. The firm’s purpose is to truly hit the coveted 5% in late 2026.

The declining shopping for efforts don’t imply that Lee and Bitmine aren’t as bullish on ETH as they have been earlier than; simply the other.

“‘Crypto spring’ has commenced, and we wished to focus on the significance of proudly owning ETH as a supply of diversification, and the probably drivers of this coming ‘crypto bull’ cycle. If ETH closes above $2,100 on the finish of May 2026, this might be the third consecutive month-to-month achieve – this has by no means been seen in a crypto bear market. Thus, an in depth above $2,100 would validate [that] ‘crypto spring’ has arrived.”

The firm has amassed over 1,000,000 ETH for the reason that begin of 2026. In addition, its portfolio consists of 201 BTC, a $200 million stake in Beast Industries, an $88 million stake in Eightco Holdings, and complete money of $775 million.

It’s nonetheless the second-largest company holder of any cryptocurrency, trailing solely Strategy, which increased its BTC holdings once more at present.

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