Bitmine will slow down its ETH purchases

Bitmine could soon reduce the pace of its ether purchases. At Consensus 2026 in Miami, Tom Lee indicated that the company is quickly approaching its accumulation goal. This shift also concerns Ethereum, while Strategy plans to sell bitcoins to meet its dividend obligations. Bitmine is now preparing a new phase focused on staking, liquidity, and share buybacks.

Bitmine is approaching its goal faster than expected

After recent criticism that hit Bitmine regarding its massive ETH purchases, Tom Lee gave a more measured signal. The company president explained that the accumulation pace could slow down as the set goal approaches quickly.

Bitmine, listed under the symbol BMNR, has established itself as the largest treasury company related to Ethereum. According to Tom Lee, the company holds more than 5.1 million ETH, or about 11.9 billion dollars at the current price. This position represents 4.29% of the total ether supply.

Initially, the company planned to reach 5% of the supply in five years. Its strategy, however, is progressing at a much faster pace. Lee explained that the current pace reaches 100,000 ETH bought per week. At this rate, Bitmine could reach its goal in about six weeks.

Thus, the company now plans to slow its acquisitions. This decision does not mean a complete stop to purchases. It rather reflects a more measured management as the targeted goal rapidly approaches.

Ethereum remains at the heart of the treasury strategy

Ethereum retains a central place in the company’s financial organization. According to information presented by Tom Lee, about 85% of the ETH held is staked. This activity generates well over 300 million dollars in annualized revenue, or nearly 1 million dollars per day.

These revenues give Bitmine significant room for maneuvering. They also reduce the pressure to sell digital assets during phases of increased volatility. In a still unstable market, this source of liquidity allows the company to maintain a more flexible strategy.

The context remains cautious for crypto treasury companies. Several players have slowed down or suspended their purchases during the market downturn. On its side, Bitmine has continued to accumulate cryptocurrencies, distinguishing it from many competitors.

This position contrasts notably with that of Strategy, a major corporate Bitcoin holder. The company indicated it might sell bitcoins to meet its dividend obligations. In this landscape, Ethereum represents for Tom Lee an asset linked to financial tokenization and to the future uses of public blockchains.

Staking, share buybacks, and MAVAN take over

After the rapid accumulation of ETH, Bitmine is exploring other uses of its capital. The company recently announced a 4 billion dollar program to buy back shares. This initiative adds to the development of MAVAN, its institutional staking platform launched in March.

MAVAN currently holds about 14 billion dollars in digital assets. This portfolio includes ETH, Solana, and Canton, according to information presented by Lee. The platform thus strengthens the role of staking in the group’s overall strategy.

In parallel, Tom Lee mentioned investments related to artificial intelligence and consumer platforms. He cited Eightco Holdings and Beast Industries, associated with MrBeast. According to him, Eightco offers indirect exposure to OpenAI and Sam Altman’s World project.

By gradually slowing its purchases, Bitmine seems to enter a new phase of strategic maturity, while the Ethereum Foundation accelerates network capabilities with Glamsterdam. The company no longer only seeks to accumulate ETH but also to transform this reserve into a revenue engine through staking, share buybacks, and its new institutional platforms. In this context, Bitmine confirms its willingness to bet on the long-term development of the ecosystem and the rise of uses linked to tokenized finance and blockchain infrastructures.