Bitmine Slows Ether Buys After Acquiring 1M ETH in 2026
Bitmine reduced its weekly ether purchases after months of rapid accumulation in 2026.The company bought 26,659 ETH last week, worth about $63 million at current prices.Bitmine now holds more than 5.2 million ETH, which equals about 4.31% of Ethereums circulating supply.Tom Lee said the firm slowed buying as it approached its long-term goal of owning 5% of supply.Bitmine has acquired over 1 million ETH since the start of this year.The companys total crypto and cash holdings stand at $13.4 billion. Bitmine Immersion Technologies has reduced its weekly ether purchases after months of rapid accumulation. Chairman Tom Lee confirmed the shift after the firm approached its 5% Ethereum supply target. The company still holds over 5.2 million ETH after buying more than 1 million tokens this year. Bitmine Eases Weekly Ether Accumulation Pace Bitmine bought 26,659 ETH last week, valued at about $63 million at current prices. However, that figure equals roughly one quarter of its recent weekly average. The purchase increased total holdings to over 5.2 million ETH, or about 4.31% of the circulating supply. Tom Lee addressed the change during remarks at Consensus 2026 in Miami. He said the company would reduce weekly purchases from over 100,000 ETH. “Our previous pace of buys