Bitmine Immersion Technologies (BMNR) has reached a significant milestone in its efforts to accumulate Ethereum tokens. According to the company's latest announcement, its ETH holdings have surpassed 5.21 million tokens, totaling $13.4 billion in crypto and cash assets.
The company's progress towards the 'Alchemy of 5%' target is impressive, with 86% achieved in just 11 months. This goal aims to acquire 5% of the total Ethereum supply, and Bitmine is well on its way to achieving it.
Tom Lee, Chairman of Bitmine, believes that Ethereum's price may be driven by two key factors: Wall Street tokenization and agentic AI systems. He notes that if ETH closes above $2,100 at the end of May 2026, it would validate the arrival of 'crypto spring'.