Tom Lee, president of BitMine Immersion Technologies, claims a new crypto bull market began in late June 2026, citing capital rotation from artificial intelligence stocks, the development of tokenization, and a possible break from Bitcoin’s traditional four-year cycle. BitMine held 6,001,302 ETH as of September 28, representing approximately 4.9% of the circulating Ethereum supply, valued at around $16 billion, nearing its “Alchemy of 5 %” target set fifteen months earlier. Over 5 million ETH, accounting for roughly 85% of the company’s holdings, are now staked to generate yield, with annualized revenues estimated at over $350 million. BitMine’s share buyback program, listed on NYSE American under ticker BMNR, was increased from $1 billion to $4 billion to support the stock price against dilution risks.
Source: Read the original article
