Ethereum News: Bitmine Adds 26,659 ETH as Tom Lee Says ‘Crypto Spring’ Has Begun

Ethereum treasury Bitmine has announced another ETH purchase made last week, with the company’s holdings now above 5.2 million ETH. This comes as the company’s chairman, Tom Lee, said that the crypto spring has begun, signaling that ETH could soon reach new highs.

Bitmine Acquires 26,659 ETH As Holdings Climb Above 5.2 Million

In a press release, the Ethereum treasury company revealed that it now holds 5,206,790 ETH, indicating that it purchased 26,659 ETH last week. With the latest purchase, the company now holds 4.31% of the total ETH supply.

Bitmine Chairman Tom Lee noted that they have acquired over 1 million ETH since the start of this year and intend to hold and stake it. He added that this means that their ETH holdings are essentially reducing the available supply, with 4.3% of the total supply now out of circulation since June 30th, 2025. “In other words, ETH supply has been disinflationary since June 2025,” he said.

The Ethereum treasury firm has now staked 4,712,917 ETH, worth around $11.1 billion. Lee stated that their projected ETH staking reward is $352 million annually when they fully stake all their ETH holdings.

Meanwhile, the Bitmine chairman revealed that they have decided to slow the pace of their weekly accumulation from above 100,000 ETH, as they had originally targeted reaching the ‘alchemy of 5%’ by late 2026. He noted that the previous pace of buying over 100,000 ETH weekly would have put them on course to reach this target by mid-July.

The Ethereum treasury firm had notably been buying over 100,000 ETH in recent weeks, as Lee stated they saw signs that the crypto winter was ending. Prior to this latest purchase, Bitmine acquired 101,745 ETH, one of its largest purchases since December 2025.

Crypto Spring Has Commenced

Tom Lee stated that the crypto spring has begun, signaling that another bull run is already underway. He noted that the key future drivers for Ethereum are Wall Street’s move to tokenization and agentic AI.

The Bitmine chairman also mentioned that if the Ethereum price closes above $2,100 at the end of this month, it would mark the third consecutive monthly gain, which has never happened in a crypto bear market. “Thus, a close above $2,100 would validate ‘crypto spring’ has arrived,” he declared.

A potential bull run for Ethereum would mark a positive for the BMNR stock, which is down 20% year-to-date (YTD). However, the crypto stock has rebounded over the last two months alongside ETH.

The Bitmine stock is up amid the announcement of this latest purchase. TradingView data show the stock is trading at around $22, up less than 1% at the market open. The stock has been down over the past week.