Bitmine Chairman Tom Lee declared that the cryptocurrency market is on the verge of a new “super cycle,” with Ethereum positioned to be one of the biggest winners. Lee’s bold prediction comes as Bitmine Immersion Technologies made its largest Ethereum purchase of 2026, acquiring 111,942 ETH worth approximately $237 million after the token dipped below $2,200.
According to Lee, two major forces will drive this super cycle. First, the accelerating tokenization of traditional assets by Wall Street firms will funnel stocks, bonds, and real-world assets onto blockchain networks, massively boosting demand for Ethereum-based infrastructure. Second, the rise of AI-powered agents will require blockchain-based payment and transaction systems, and Ethereum’s robust developer ecosystem places it at the center of that transformation. Lee argued that the fusion of finance and AI on public blockchains makes Ethereum a critical piece of future digital infrastructure.
Bitmine now holds 5,390,404 ETH, representing 4.47% of Ethereum’s circulating supply, valued at $12.3 billion in total assets including 203 Bitcoin and $444 million in cash. The company is chasing a stated goal of owning 5% of the supply, needing approximately 644,596 more ETH, which Lee expects to achieve this year. The firm had been buying over 100,000 ETH weekly for three straight weeks before slowing earlier this month, following a treasury model similar to Michael Saylor’s Bitcoin strategy.
Through its MAVAN (Made in America Validator Network) institutional staking platform, Bitmine has staked more than 87% of its ETH, generating $276 million in annualized staking revenue based on a 2.75% seven-day yield. The company plans to open MAVAN to institutional investors and partners, potentially expanding staking revenue further. Across the broader network, over 39.2 million ETH is staked, about 32.19% of the total supply.
Ethereum’s price has fallen over 58% from its all-time high of $4,946 in August 2025, trading between $2,025 and $2,147 last week. Lee views the pullback as an attractive long-term opportunity, emphasizing that market corrections are temporary. Bitmine’s recent listing move to the New York Stock Exchange in April 2026 and its equity holdings in Beast Industries and Eightco Holdings (which gives indirect OpenAI exposure) underline its growing institutional footprint.
