The firm reduced its Ethereum accumulation pace after previously buying over 100k ETH weekly, targeting a 5% supply stake by 2026.
BitMine Immersion Technologies slowed its Ethereum purchases last week, adding 26,659 ETH worth $62 million. The move follows a period of aggressive accumulation, where the firm bought over 100,000 ETH weekly, totaling more than $230 million in three consecutive periods.
The firm now holds over 5.2 million ETH, valued at approximately $12.1 billion, representing 4.3% of Ethereum’s circulating supply. Chairman Tom Lee stated the adjusted pace aims to reach a 5% stake by late 2026, rather than mid-2025 under the prior strategy.
Shares of BitMine have declined more than 43% over the past six months, reflecting broader market conditions and the firm’s shifting accumulation strategy.