Bitmine Slows Ether Accumulation After Acquiring 1 Million Tokens in 2026
Bitmine, the digital asset treasury firm chaired by Tom Lee, has significantly decelerated its acquisition of Ethereum (ETH). In the past week, the company purchased approximately 26,659 ETH, valued at $63 million. This figure represents a sharp decline from its recent average weekly purchase rate of 100,000 ETH. The strategic slowdown comes as Bitmine approaches its long-term objective of controlling 5% of Ethereum's total supply. Since the beginning of 2026, the firm has accumulated over 1 million ETH, bringing its total holdings to more than 5.2 million tokens. This substantial reserve constitutes roughly 4.31% of the cryptocurrency's circulating supply. Tom Lee indicated that the moderation in buying pace is a deliberate move aligned with nearing their accumulation targets. The news highlights the growing trend of corporate treasuries holding significant positions in major cryptocurrencies, with Bitmine emerging as a dominant holder of Ethereum. This development occurs amidst broader market activities, including significant fundraising by Circle and continued Bitcoin acquisitions by other institutional players, reflecting sustained institutional interest in digital assets despite market fluctuations.
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Bitmine Slows Ether Accumulation After Acquiring 1 Million Tokens in 2026
Bitmine, the digital asset treasury firm chaired by Tom Lee, has significantly decelerated its acquisition of Ethereum (ETH). In the past week, the company purchased approximately 26,659 ETH, valued at $63 million. This figure represents a sharp decline from its recent average weekly purchase rate of 100,000 ETH. The strategic slowdown comes as Bitmine approaches its long-term objective of controlling 5% of Ethereum's total supply. Since the beginning of 2026, the firm has accumulated over 1 million ETH, bringing its total holdings to more than 5.2 million tokens. This substantial reserve constitutes roughly 4.31% of the cryptocurrency's circulating supply. Tom Lee indicated that the moderation in buying pace is a deliberate move aligned with nearing their accumulation targets. The news highlights the growing trend of corporate treasuries holding significant positions in major cryptocurrencies, with Bitmine emerging as a dominant holder of Ethereum. This development occurs amidst broader market activities, including significant fundraising by Circle and continued Bitcoin acquisitions by other institutional players, reflecting sustained institutional interest in digital assets despite market fluctuations.
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