Bitmine Slows Ethereum Buying Pace After Surpassing 1 Million ETH Acquired in 2026

Bitmine Immersion Technologies has significantly reduced the speed of its recent ethereum purchases after completing one of the largest ETH accumulation campaigns in the crypto industry this year.

The company, led by chairman Tom Lee, purchased approximately 26,659 ETH last week, worth around $63 million based on current market prices. The latest acquisition marks a sharp slowdown compared to Bitmine’s previous average weekly purchases of more than 100,000 ETH.

Bitmine Now Holds Over 5.2 Million ETH

Following the newest purchase, Bitmine’s total ethereum holdings have climbed above 5.2 million ETH, representing roughly 4.31% of Ethereum’s circulating supply.

The company has emerged as one of the largest institutional ethereum holders globally, positioning itself as a major player in the growing digital asset treasury sector.

Since the beginning of 2026, Bitmine has accumulated more than 1 million ETH, according to company statements.

Tom Lee Says Bitmine Is Nearing Its Long-Term Ethereum Goal

During comments made at the Consensus 2026 event in Miami, Tom Lee explained that the company may begin moderating its accumulation strategy as it approaches its long-term objective of controlling approximately 5% of Ethereum’s total supply.

Lee stated that continuing purchases at the previous pace would have allowed Bitmine to hit the 5% target by mid-July.

Despite slowing acquisitions, the company remains among the few large crypto treasury firms still consistently buying digital assets during recent market volatility.

Bitmine’s Crypto Holdings Reach $13.4 Billion

Bitmine disclosed that its combined crypto and cash holdings are now valued at approximately $13.4 billion.

In addition to its massive ETH reserve, the company also owns:

• 201 BTC
• Around $775 million in cash
• Equity investments in firms including Beast Industries and Eightco Holdings

The company continues expanding its crypto-focused treasury and investment strategy despite uncertain market conditions.

More Than 90% of Bitmine’s ETH Is Staked

Bitmine also revealed that over 4.7 million ETH — more than 90% of its total ethereum holdings — are currently staked through its infrastructure platform.

The staked assets are estimated to be worth approximately $11.1 billion and generate ongoing staking rewards for the company.

Its MAVAN staking platform, launched earlier this year, is designed to support both institutional clients and Bitmine’s own treasury operations.

Tom Lee Predicts “Crypto Spring” for Ethereum

Tom Lee reiterated his optimistic outlook on the crypto market, arguing that Ethereum’s recent price recovery may signal the beginning of a broader bullish phase.

According to Lee, if ETH closes above $2,100 by the end of May, it would mark three consecutive months of gains — a trend he noted has never previously occurred during a crypto bear market.

The comments have drawn attention from investors closely monitoring institutional ethereum accumulation and the growing role of public companies in digital asset markets.