Firm reduces weekly Ethereum buys to 26,659 tokens from over 100k, targeting 6.035 million ETH holdings by December.
Bitmine Immersion Technologies has slowed its Ethereum accumulation, purchasing 26,659 ETH in the past week, down from over 100,000 tokens weekly. The company aims to own 5% of the 120.7 million circulating ETH supply by year-end, adjusting its timeline from mid-2026 to December 2024.
Previously, Bitmine accelerated its buying pace, acquiring more than 100,000 ETH in recent weeks. The firm’s strategy mirrors Michael Saylor’s Bitcoin treasury model, positioning itself as a major ETH holder. Current holdings exceed 4.7 million ETH, with plans to stake the entire stash for estimated annual rewards of $352 million.
The adjustment follows Bitmine’s reassessment of market conditions, though no immediate price reaction was reported. The firm remains the largest Ether treasury company by holdings.