#tomleeonbitmineslowingethpurchases Tom Lee said BitMine Immersion Technologies may slow the pace of its aggressive Ethereum accumulation as the company approaches its target of owning 5% of the total ETH supply. (Decrypt)
According to Lee at the Consensus 2026 conference in Miami:
BitMine currently holds more than 5.1 million ETH, equal to about 4.29% of Ethereum’s circulating supply. (Crypto Briefing)
The firm has been purchasing roughly 100,000 ETH per week and could hit the 5% target within about six weeks at the current pace. (CoinMarketCap)
Lee said the company is considering “a somewhat slower pace” because “there’s other things to be doing in crypto right now.” (Stocktwits)
BitMine’s strategy shift may include:
allocating more capital toward its recently announced $4 billion stock buyback plan,
expanding its institutional staking platform MAVAN,
and investing in AI and tokenization-related opportunities. (MEXC)
Lee also emphasized that BitMine generates substantial staking income:
about 85% of its ETH holdings are staked,
producing more than $300 million in annualized staking rewards. (MEXC)
Despite slowing purchases, Lee remains strongly bullish on Ethereum long term. He argued Ethereum could benefit from:
real-world asset tokenization,
stablecoin settlement growth,
and AI systems using blockchain rails for payments and verification. (ForkLog)
Markets reacted cautiously after the comments, with BitMine’s BMNR shares falling around 4% following the announcement. (BeInCrypto)