Bitmine Immersion Applied sciences (BMNR) has sharply slowed its ether (ETH) buy tempo as Chairman Tom Lee signaled, following months of aggressive shopping for that made it the world’s largest Ethereum treasury firm.
The agency purchased 26,659 ether final week, price about $63 million based mostly on ether’s present worth. That is roughly 1 / 4 of the common weekly haul it bought over the previous weeks.
The acquisition lifted Bitmine’s holdings to over 5.2 million ETH, or round 4.31% of ether’s circulating provide, in line with a Monday firm replace.
The replace follows feedback Lee made final week at Consensus 2026 in Miami, the place he stated BitMine could start moderating its shopping for tempo after one of many quickest accumulation runs within the crypto market.
The slowdown follows feedback Tom Lee made final week at Consensus 2026 in Miami, the place he stated Bitmine was contemplating easing purchases because it approached its long-term purpose of buying 5% of Ethereum’s provide.
“We’ve got determined to decelerate our tempo of weekly accumulation from over 100,000 [ETH] per week,” Lee stated in Monday’s assertion. “Our earlier tempo of buys would have us attain 5% by mid-July.”
Bitmine stays one of many few main digital asset treasury corporations nonetheless constantly shopping for crypto throughout the latest market downturn. Because the begin of 2026, the corporate has acquired greater than 1 million ETH, in line with Lee.
The corporate’s whole crypto and money holdings stood at $13.4 billion. Along with ETH, BitMine holds 201 bitcoin, $775 million in money and fairness stakes together with investments in Beast Industries and Eightco Holdings.
Lee reiterated his view that “crypto spring” has begun, pointing to ether’s latest restoration and enhancing sentiment in software program and development shares.
“If ETH closes above $2,100 on the finish of Might, this may be the third consecutive month-to-month acquire — this has by no means been seen in a crypto bear market,” Lee stated.
BitMine has additionally expanded its staking operations. The agency now has over 4.7 million ETH staked — greater than 90% of its holdings — representing about $11.1 billion price of property producing staking rewards. Its MAVAN staking platform, launched earlier this 12 months, is aimed toward institutional purchasers in addition to Bitmine’s personal treasury operations.