Bitmine Immersion Technologies has slowed the pace of accumulation of more ETH, as it\u2019s well within its timeframe to reach the 5% supply target this year.<\/p>\n
Nevertheless, its chairman remains highly bullish on crypto and Ethereum in particular, predicting the end of the bull market and the beginning of crypto spring.<\/p>\n
The new press release from the firm shows<\/a> that its total ETH holdings have risen to 5.21 million tokens from 5.18 million last week. This means that the firm has bought roughly 30,000 coins in the past week, which is a substantial decline from the over 100,000 in the previous few accumulation announcements<\/a>.<\/p>\n The reason for this, according to chair Tom Lee, is that the previous pace of over 100,000 ETH per week \u201cwould have us reach 5% by mid-July.\u201d He talks about the percentage of the asset\u2019s total supply owned by the company he runs, which is now at around 4.3%.\u00a0The company\u2019s goal is to actually hit the coveted 5% in late 2026.<\/p>\n The declining buying efforts don\u2019t mean that Lee and Bitmine are not as bullish on ETH as they were before; just the opposite.<\/p>\n \u201c\u2018Crypto spring\u2019 has commenced, and we wanted to highlight the importance of owning ETH as a source of diversification, and the likely drivers of this coming \u2018crypto bull\u2019 cycle. If ETH closes above $2,100 at the end of May 2026, this would be the third consecutive monthly gain \u2013 this has never been seen in a crypto bear market. Thus, a close above $2,100 would validate [that] \u2018crypto spring\u2019 has arrived.\u201d<\/p>\n The company has accumulated over a million ETH since the start 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 total cash of $775 million.<\/p>\n It\u2019s still the second-largest corporate holder of any cryptocurrency, trailing only Strategy, which increased<\/a> its BTC holdings again today.<\/p>\n The post Tom Lee Doubles Down on \u2018Crypto Spring\u2019 Theory but Bitmine Slows ETH Accumulation<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitmine Immersion Technologies has slowed the pace of accumulation of more ETH, as it\u2019s well within its timeframe to reach the 5% supply target this year. Nevertheless, its chairman remains highly bullish on crypto and Ethereum in particular, predicting the end of the bull market and the beginning of crypto spring. The new press release […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-163813","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/163813"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=163813"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/163813\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=163813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=163813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=163813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}