Bitmine Immersion Technologies (NYSE:BMNR) bought 26,659 Ethereum (CRYPTO: ETH) last week, down 75% from its recent weekly average of 100,000 ETH as Chairman Tom Lee signals a slowdown.
Bitmine Now Holds 4.31% Of Ethereum Supply
The purchase brings Bitmine’s total holdings to over 5.2 million ETH, representing 4.31% of Ethereum’s circulating supply. That marks over 1 million ETH acquired since January alone.
Lee said the firm is moderating buys as it approaches its long-term goal of owning 5% of the token’s supply.
“We have decided to slow down our pace of weekly accumulation from over 100,000 [ETH] per week,” Lee said in Monday’s statement. “Our previous pace of buys would have us reach 5% by mid-July,” he added.
The slowdown follows comments Lee made last week at Consensus 2026 in Miami, where …
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