Bitmine Immersion Technologies President Thomas Lee said this Monday, May 11, 2026, that he believes the cryptocurrency market has entered a recovery phase. The executive believes that “the crypto spring has begun,” and emphasized the importance of owning Ether (ETH) as a source of diversification in your investment portfolio.
“If ETH closes above $2,100 at the end of May 2026, it will be the third straight month of gains. This is something you would never see in a crypto bear market,” Lee elaborated. According to him, A closing price above that price will confirm your hypothesis.
The chart below, shared by BitMine on its X account, highlights with green circles the times when ETH had bullish months during a bearish cycle.
Managers also identified underlying structural factors. He explained that “the tokenization of Wall Street and the transition to agent-based AI” will drive growth. In the case of Real World Asset (RWA) tokenization, the market has already reached $30 billion in total assets in circulation today.
Bitmine, a publicly traded company with the world’s largest ETH fund, supports this vision with an aggressive ETH accumulation plan. Last week, the company acquired 26,659 ETH worth $63 million. Lee based his position on recent movements in the price of Ether, the native cryptocurrency of the Ethereum network, and his company’s actions.
“Since the beginning of 2026, Bitmine has acquired over 1 million ETH, accumulating over 4.3% of the total ETH supply,” Lee said. This strategy directly reduces the amount of ETH available on the market.
The company maintains a long-term retention policy. “We are going to stake the ETH we have,” the president said. To manage these funds, the company uses its own staking platform called MAVAN (Made in America Validator Network), which was launched in March 2026, according to a report by CriptoNoticias. Bitmine currently holds a total of 5,206,790 ETH. Of that amount, you will keep 4,712,917 ETH as stake. This accounts for over 90% of the holdings.
“Our ETH holdings have reduced the available ETH supply, reducing the total ETH supply by 4.3% since June 30, 2025. In other words, the ETH supply has been disinflationary since June 2025,” Lee said.
Considering the pace I’ve reached, The company has decided to reduce the weekly cumulative rate.The original goal was to reach the 5% target by the end of 2026. At his previous weekly rate of 100,000 ETH or more, he would have reached his goal by mid-July.
