Bitmine Slows Ethereum Accumulation, Targets 5% Supply Ownership by December
Bitmine Immersion Technologies, the largest Ethereum treasury company, has decelerated its weekly Ether purchases after acquiring over 100,000 tokens in previous weeks. The firm recently bought 26,659 ETH, a significant decrease from its prior pace, yet remains committed to owning 5% of Ethereum's circulating supply. Chairman Tom Lee announced that while the initial aggressive buying schedule would have achieved this goal by mid-July, the company has adjusted its timeline to reach the target by the end of the year or 2026. Bitmine also plans to stake its entire holdings, currently exceeding 4.7 million ETH, aiming for approximately $352 million in annual staking rewards. Lee argues that this strategy reduces available supply, contributing to disinflationary pressure on Ethereum since June 2025. Furthermore, Lee reinforced his belief that a 'crypto spring' has begun, citing Ether's price correlation with software stocks and potential consecutive monthly gains as evidence of an emerging bull cycle. Despite Ethereum trading significantly below its August 2025 all-time high, Bitmine maintains a long-term bullish stance, emphasizing diversification and supply scarcity as key drivers for future value appreciation in the crypto market.
Wire timeline
Bitmine Slows Ethereum Accumulation, Targets 5% Supply Ownership by December
Bitmine Immersion Technologies, the largest Ethereum treasury company, has decelerated its weekly Ether purchases after acquiring over 100,000 tokens in previous weeks. The firm recently bought 26,659 ETH, a significant decrease from its prior pace, yet remains committed to owning 5% of Ethereum's circulating supply. Chairman Tom Lee announced that while the initial aggressive buying schedule would have achieved this goal by mid-July, the company has adjusted its timeline to reach the target by the end of the year or 2026. Bitmine also plans to stake its entire holdings, currently exceeding 4.7 million ETH, aiming for approximately $352 million in annual staking rewards. Lee argues that this strategy reduces available supply, contributing to disinflationary pressure on Ethereum since June 2025. Furthermore, Lee reinforced his belief that a 'crypto spring' has begun, citing Ether's price correlation with software stocks and potential consecutive monthly gains as evidence of an emerging bull cycle. Despite Ethereum trading significantly below its August 2025 all-time high, Bitmine maintains a long-term bullish stance, emphasizing diversification and supply scarcity as key drivers for future value appreciation in the crypto market.
Cointelegraph.com News