The Ether shopping for firm Bitmine Immersion Applied sciences has made its greatest buy to date in 2026 as its chairman, Tom Lee, doubled down on the thought of an impending crypto supercycle.
Lee said Tuesday that previously week, Bitmine purchased 111,942 Ether (ETH) after a latest pullback despatched the token beneath $2,200 and offered an “enticing alternative.” Ether has traded between $2,025 and $2,147 over the previous seven days.
He additionally reiterated his concept of a supercycle forward for crypto and Ether, pushed by Wall Road’s curiosity in tokenization and synthetic intelligence-powered brokers.
“We proceed to anticipate a supercycle forward for crypto and Ethereum, pushed by the twin drivers of Wall Road tokenization and agentic AI. And thus, we proceed to steadily purchase ETH, with Bitmine now proudly owning almost 5.4 million ETH tokens,” Lee stated.
Supply: Bitmine
Bitmine slowed its pace of Ether buys earlier this month after having scooped up over 100,000 ETH every week for 3 straight weeks. It’s the largest Ether treasury firm and has constantly purchased crypto, even throughout market downturns, following a enterprise mannequin just like Michael Saylor’s Bitcoin treasury agency Technique.
Bitmine’s purpose is to carry 5% of Ether’s circulating provide of 120.7 million tokens. To achieve its goal of greater than 6 million ETH, Bitmine wants about 644,596 ETH, which Lee stated will occur someday this yr.
Ether treasury corporations leaning into staking
Bitmine has staked over $4.7 million of its Ether, in line with the corporate, and expects to generate annualized staking revenues of $276 million.
Associated: Bitmine’s Tom Lee hints at stock tailwinds after firm considered for Russell 3000
Staking infrastructure supplier Everstake said in a report Tuesday that Ether treasury firms are below strain to generate income from staking and different yield methods because the enchantment of public firms simply holding the asset has been weakened by curiosity in spot crypto exchange-traded funds.
Throughout the broader ecosystem, the quantity of staked Ether has hit a brand new excessive, with greater than 39.2 million, or roughly 32.19% of the availability, locked in and one other 3.3 million ready within the wings, according to the Ethereum Validator Queue. On the similar time, the exit queue has about 234,368 Ether ready to go away.
Over 39.2 million Ether is presently staked. Supply: Ethereum Validator Queue
Ether reached an all-time excessive of $4,946 in August 2025 however has since fallen over 58%. Lee beforehand argued that Ether’s steep drawdowns could supply a shopping for alternative.
Journal: Polymarket seeks Japan entry, Harvard dumps entire ETH position: Hodler’s Digest, May 17 – 23
Source link
