Bitmine slows ETH accumulation, declares crypto spring as Tom Lee cites bullish drivers
Bitmine accomplished in months what it planned to do in five years. The firm, trading under ticker BMNR, has accumulated roughly 5.1 million to 5.18 million ETH, representing approximately 4.29% to 5% of Ethereums total supply. That stash is currently valued somewhere between $11.9 billion and $12 billion. Now, the company is easing off the accelerator. At Consensus 2026 in Miami, Bitmine chairman Tom Lee announced the firm would slow its weekly Ethereum purchases after blowing past its accumulation timeline by a wide margin. From five years to less than one Bitmine‘s original roadmap called for reaching 5% of Ethereum’s circulating supply over a five-year period. Instead, the firm got there in under twelve months by purchasing around 100,000 ETH per week. “At our current buying pace of 100,000 $ETH a week, we‘re going to be there [at 5%] in like six weeks… I think we’re deciding perhaps we want to accumulate at a somewhat slower pace.” What comes next: staking, buybacks, and the MAVAN platform With the accumulation phase largely complete, Bitmine is pivoting to a two-pronged strategy. First, the firm plans to stake approximately 85% of its holdings. At current levels, that means roughly 4.3 million to 4.4 million ETH earning yield on the