Tom Lee "Crypto Spring Has Arrived"...Ethereum Purchase Speed Adjustment

▲ Tom Lee, Bitcoin (BTC), Ethereum (ETH) / ChatGPT generated image

Bitmine Immersion Technologies has slowed down its accumulation of Ethereum (ETH). However, Chairman Tom Lee maintained his bullish stance on Ethereum, stating that if the closing price exceeds $2,100 by the end of May 2026, it could be a signal confirming the end of the bear market and the arrival of a 'crypto spring'.

CryptoPotato reported on May 11 (local time) that Bitmine's total Ethereum holdings increased from 5.18 million ETH last week to 5.21 million ETH. The company additionally purchased approximately 30,000 ETH in the past week. This is significantly lower compared to the previous accumulation announcements where it bought over 100,000 ETH per week.

The slowdown in buying speed was explained as a decision to adjust the timing of achieving its holding target, rather than a weakening of its bullish outlook. Chairman Tom Lee stated that if the company continued to buy over 100,000 ETH per week as before, it would reach its goal of holding 5% of the total Ethereum supply by mid-July. Currently, Bitmine's holding ratio is approximately 4.3% of the total Ethereum supply, and the company's actual target date is the end of 2026.

Chairman Lee asserted that 'crypto spring' has begun. He explained that if Ethereum closes above $2,100 at the end of May 2026, it would mark three consecutive months of monthly gains, a trend never seen in a cryptocurrency bear market. Therefore, he emphasized that a month-end closing price above $2,100 could be a signal validating the arrival of 'crypto spring'.

Bitmine has accumulated over 1 million ETH since early 2026. In addition to Ethereum, the company's portfolio includes 201 BTC, $200 million in Beast Industries shares, $88 million in Eightco Holdings shares, and $775 million in cash.

CryptoPotato reported that Bitmine still ranks second in terms of corporate cryptocurrency holdings. The first place is held by MicroStrategy, which has once again increased its Bitcoin (BTC) holdings. Bitmine's adjustment of its buying speed is interpreted not as a halt to its Ethereum accumulation strategy, but as a pace adjustment to align its 5% supply holding target with the end of 2026.

The key takeaway from this announcement is that despite Bitmine slowing down its Ethereum purchases, Tom Lee's market outlook has become stronger. Whether Ethereum maintains its break above $2,100 by the end of May is presented as a key criterion to validate Bitmine's 'crypto spring' thesis.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*