26,659 ETH bought, then a sudden brake: Bitmine's strategy questioned
Bitmine, a crypto giant, just bought 26,659 ETH before abruptly slowing its purchases. With 5.2 million ETH in its portfolio, the company is approaching 5% of the circulating supply. A bold strategy that raises questions in the crypto market and could well redefine Ethereum’s future in 2026.
In brief
- Bitmine bought 26,659 ETH ($63M) before slowing its purchases, approaching 5% of the circulating supply.
- Bitmine holds 5.2 million ETH ($12.3B), with massive staking generating $319M in annual revenue.
- This strategic reversal questions the market: anticipating a correction or a new investment phase?
Bitmine slows down its Ethereum purchases: why this change?
Bitmine, the world leader in Ethereum (ETH) purchases, has just announced a strategic slowdown after acquiring 26,659 ETH for $63 million in May 2026. This decision comes after months of aggressive buying, with a peak of 101,901 ETH in one week in April. With 5.2 million ETH in its portfolio (4.31% of the circulating supply), the company is approaching its 5% target, a symbolic threshold to influence the crypto market.
Tom Lee, Bitmine’s CEO, justifies this slowdown by the need to avoid overheating and explore other opportunities. Indeed, at Consensus 2026, he mentioned the alchemy of 5%, a target that could redefine Ethereum’s dynamics. This reversal raises questions: is Bitmine anticipating a market correction or preparing for a new investment phase?
ETH staking, an unknown lever for Bitmine and crypto investors
Bitmine does not just buy ETH: it also stakes massively. Indeed, with 4.712 million ETH locked (over 90% of its reserves), the company generates $319 million in annual revenue through its MAVAN platform. A yield of 2.86% that could reach $352 million if its entire crypto portfolio were staked.
This model proves that Ethereum staking is no longer a niche but a profitable strategy for major players. MAVAN, initially reserved for Bitmine, could open to institutional investors, strengthening ETH’s attractiveness as a passive income-generating asset. For individuals, this approach is inspiring. What if staking became the new norm to maximize your crypto holdings?
Bitmine reinvents the crypto strategy between accumulation and staking. Ethereum becomes a key asset. But this concentration raises a debate: how far can the influence of a single player go on the crypto market? And you, would you be ready to stake your ETH today?
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The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.