“‘Crypto spring’ has commenced and we wanted to highlight the importance of owning ETH as a source of diversification, and the likely drivers of this coming ‘crypto bull’ cycle,” stated Thomas “Tom” Lee, Chairman of Bitmine. “Among the key future drivers for Ethereum, the two primary are Wall Street’s move to tokenization and agentic AI. If ETH closes above $2,100 at the end of May 2026, this would be the third consecutive monthly gain – this has never been seen in a crypto bear market. Thus, a close above $2,100 would validate ‘crypto spring’ has arrived.”
“Since the start of 2026, Bitmine has acquired over 1 million ETH and has accumulated over 4.3% of the ETH supply. We intend to hold and stake our ETH holdings, which means our ETH holdings are essentially reducing available supply of ETH and removed 4.3% of ETH supply since June 30th, 2025. In other words, ETH supply has been disinflationary since June 2025.” stated Lee.
“We have decided to slow down our pace of weekly accumulation from >100,000 per week as we originally targeted reaching the ‘alchemy of 5%’ target in late 2026. Our previous pace of >100k weekly buys would have us reach 5% by mid-July.” stated Lee.
“ETH prices have been correlated with software stocks (software ETF ticker: $IGV) and as shown on the chart below, both have been moving higher together in the past few months. The recovery in software in 2026 is further evidence ‘crypto spring’ has commenced,” said Lee.
Bitmine recently launched MAVAN (the Made in American VAlidator Network), the institutional grade staking platform. While MAVAN was originally developed to support Bitmine’s own Ethereum treasury, MAVAN intends to expand to serve institutional investors, custodians, and ecosystem partners seeking best-in-class staking infrastructure. A portion of Bitmine’s ETH is already staked on the MAVAN platform.
As of May 10, 2026, Bitmine total staked ETH stands at 4,712,917 ($11.1 billion at $2,366 per ETH). “Bitmine has staked more ETH than other entities in the world. At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $352 million annually (using 2.86% 7-day BMNR yield),” stated Lee.
“Annualized staking revenues are now $319 million. And this 4.7 million ETH is over 90% of the 5.21 million ETH held by Bitmine. Bitmine’s own staking operations generated a 7-day yield of 2.86% (annualized),” continued Lee.
