Tom Lee Calls It ‘Crypto Spring’ as Bitmine Adds 76,881 ETH

Bitmine Immersion Technologies purchased 76,881 ETH, increasing its ether treasury to 5.62 million tokens, the company reported Monday. That holding represents about 4.66% of ether’s roughly 120.7 million-token supply.

The latest weekly buy moved Bitmine to roughly 93% of its stated “alchemy of 5%” target, which equals 5% of ether’s total supply. At recent prices the ether holdings are worth about $9.66 billion, making Bitmine the largest corporate ether holder and the second-largest corporate crypto treasury overall, behind a corporate holder with a $54 billion bitcoin position.

Tom Lee, Bitmine’s chairman, described the market as being in the “early stages of crypto spring” and said the company is keeping an elevated pace of buying because recent price weakness does not reflect the network’s fundamentals. He expects Bitmine to reach the 5% target sometime in 2026.

Bitmine reported that 4,718,677 ETH, or more than 83% of its holdings, is currently staked. The company said its staking operations are producing a seven-day yield of 2.79%, with projected annualized staking revenue of about $219 million. Bitmine added that staking revenue could rise to roughly $269 million at scale through its MAVAN validator infrastructure.

Ether traded around $1,765 on Monday, up about 5.9% over the prior 24 hours and roughly 64% below its all-time high near $4,946 set in August 2025. Bitmine noted the lower price has not changed its accumulation plan.

Other reported assets include 204 bitcoin, a $180 million stake in Beast Industries, an $88 million stake in Eightco Holdings, and approximately $502 million in cash and marketable securities. Bitmine’s shares (BMNR) closed the most recent Friday session at $16.11, down 2.48%.

Bitmine characterized the ether accumulation as part of a longer-term plan to build a revenue-generating crypto treasury through staking and related infrastructure while continuing to hold other digital assets and equity stakes.