It doesn’t appear that Tom Lee intends to hold back, as the BitMine company he runs, Immersion Technologies, made the largest annual purchase of Ethereum (ETH), supporting his bullish outlook on the coin’s price. The company added 111,942 ETH worth over $237 million in just one week, bringing its total holding to 5,390,404 ETH, with its current value estimated at around $11.4 billion.
BITMINE JUST MADE ITS BIGGEST PURCHASE OF ETH THIS YEAR
BitMine added almost 112,000 $ETH last week, worth approximately $237 MILLION, its largest ETH purchase of 2026.
The company now holds nearly 5.4 MILLION ETH and is over 88% of the way toward its goal of holding 5% of ETH… pic.twitter.com/SbGgnAKH38– Coinbureau (@coinbureau) May 26, 2026
BitMine now controls 4.4% of the total circulating supply of Ethereum, putting the company 88% short of its stated goal of capturing 5% of the network. Lee, who is chairman of BitMine, recently indicated that the company might moderate the pace of buying to avoid hitting the 5% target too quickly, but he still went back and bought the dip.
“We continue to anticipate an upcoming supercycle for cryptocurrencies and Ethereum, driven by the twin drivers of Wall Street asset tokenization and proxy AI,” Lee said in a statement.
The question now is: can institutional purchases, on their own, maintain a structural floor price?
Ethereum Price Prediction: $5,500, $10,000 or $15,000?
Ethereum is currently trading just above $2,100, a far cry from Tom Lee’s ambitious target of $62,000. The current price level reflects a corrective pullback and not a trend reversal, at least according to the technical structure of the market.
Elliott Wave analysis, consistent with BitMine trends, identifies key support levels at $2,000, with a deeper corrective floor around $1,800. On the other hand, resistance accumulates at $2,200 then $2,400, with a breakout path towards $2,600 open in the event of strong buying momentum.
In an ideal scenario, Ethereum would reclaim the resistance level at $2,400 supported by high trading volume, which could trigger a rally towards $2,700, and then head towards the near targets mentioned publicly by Lee, with medium-term expectations extending between $7,000 and $9,000.
However, any sustained break below $1,800 would challenge the correction thesis and could push the price to retest lower structural support levels, although BitMine’s continued buying appears to be narrowing the potential downside window.
In contrast, BitMine (BMNR) stock reflects a state of nervousness; It rose 3.3% on the day the purchase was announced, but remains down about 38% in six months. The stock’s poor performance relative to the performance of Ethereum itself is one of the strangest disconnects of this market cycle.
Bitcoin Hyper Targets Early Advantages While Ethereum Tests Critical Levels
Ethereum’s bullish structural case remains strong, but with a market cap of $250 billion, it will take patience to realize huge gains. Thus, traders are turning to early-stage infrastructure projects, where they discover asymmetric risk profiles that Ethereum, at its current stage, cannot offer.
Crypto market signals indicate an open appetite for high beta positions, and this is where pre-selling infrastructure projects are attracting new capital.
It’s a project BitcoinHyper ($HYPER) is one of the most technically remarkable projects of the current cycle. It is offered as Bitcoin’s first Layer 2 with Solana Virtual Machine (SVM) integration, providing sub-second end speed and smart contract capabilities while leveraging Bitcoin’s security model.
The project does not rely on simple speculative narratives; Rather, it is a direct response to Bitcoin’s three fundamental limitations: slow transactions, high fees, and almost non-existent programmability.
The pre-sale managed to collect $32 million At the current price of $0.0136 Each token has $HYPER, with staking available at high annual returns. The decentralized canonical bridge also processes BTC transfers natively via layer 2. Capital turnover to the project has been stable, in line with the desire for early investment in Bitcoin-related infrastructure.
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