Bitmine Adds 26,659 ETH Last Week, Holdings Exceed 5.2 Million

Bitmine bought 26659 ETH last week for about $63 million, a sharp decline from its previous average weekly purchases of over 100000 ETH. 31 percent of ether’s circulating supply. Bitmine has acquired more than 1 million ETH since the start of 2026.

Chairman Tom Lee spoke at Consensus 2026 in Miami last week and later stated that the firm had decided to slow its pace. "We have decided to slow down our pace of weekly accumulation from over 100,000 [ETH] per week," Lee said. He added that the previous pace of buys would have reached 5 percent ownership by mid-July.

Lee, chairman of Bitmine and cofounder of Fundstrat, said the company is moderating its buying as it nears its long-term goal of owning 5 percent of Ethereum’s supply. The firm remains one of the few major digital asset treasury companies still consistently buying crypto during the recent market downturn. 4 billion.

In addition to its ether position, Bitmine holds 201 bitcoin and $775 million in cash. The company also maintains equity stakes in Beast Industries and Eightco Holdings. 1 billion.

Bitmine launched its MAVAN staking platform earlier in 2026 to serve institutional clients as well as its own treasury operations. The staked ether generates rewards while the firm continues to manage one of the largest corporate Ethereum treasuries. Lee reiterated his view that "crypto spring" has begun, citing ether’s recent recovery and improving sentiment in software and growth stocks.

"If ETH closes above $2,100 at the end of May, this would be the third consecutive monthly gain," Lee said. He added that a third consecutive monthly gain has never been seen in a crypto bear market. CoinDesk reported on Lee’s comments and the company’s Monday update detailing the latest purchase and staking figures.