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Bitmine plans to hold 5% of the Ethereum supply by the end of 2026.
Golden Finance reports that on May 12th, Bitmine Chairman Tom Lee stated that last week, Bitmine purchased 26,659 ETH, a slowdown from the previous weekly purchase of over 100k ETH, but they still plan to hold 5% of the circulating supply of Ethereum by the end of 2026. Currently, the company’s total staked Ethereum exceeds 4.7 million ETH, with an estimated annual reward of approximately $352 million after all staked.
Tom Lee believes that if Ethereum’s closing price at the end of May is above $2,100, it will confirm that the “crypto spring” has arrived.