Bitmine made its largest ETH purchase this year despite Tom Lee's slowdown suggestion
Key takeaways
- The company bought 111,942 ether last week worth $237 million, ramping up purchases to take advantage of ETH's drop below $2,200.By Krisztian Sandor|Edited by Stephen Alpher May 26, 2026, 1:27 p.m.
- The company said Monday it bought 111,942 ether (ETH) last week, worth around $237 million at current prices.
- The purchase marks a renewed acceleration in Bitmine’s buying pace after Lee said earlier in May at Consensus 2026 in Miami that the company planned to slow weekly accumulation.
The company bought 111,942 ether last week worth $237 million, ramping up purchases to take advantage of ETH's drop below $2,200.By Krisztian Sandor|Edited by Stephen Alpher May 26, 2026, 1:27 p.m. 1 min read Make preferred on Tom Lee on the Mainstage at Consensus Miami 2026 (Coin Desk)What to know: Bitmine Immersion bought 111,942 ether (ETH) last week, its largest purchase since December, bringing its holdings to nearly 5.4 million tokens.Chairman Tom Lee said the firm is accelerating purchases to take advantage of ether’s pullback below $2,200 and expects to reach its goal of controlling 5% of the supply later in 2026.Bitmine now holds $12.3 billion in crypto and cash, has staked more than 4.7 million ETH, and is generating roughly $276 million in annualized staking revenue.Bitmine Immersion (BMNR), the Ethereum treasury firm helmed by chairman Tom Lee, ramped up purchases again, making its biggest haul since December.
The company said Monday it bought 111,942 ether (ETH) last week, worth around $237 million at current prices. That lifted the firm's holdings to almost 5.4 million ETH, about 4.47% of Ethereum’s circulating supply.
The purchase marks a renewed acceleration in Bitmine’s buying pace after Lee said earlier in May at Consensus 2026 in Miami that the company planned to slow weekly accumulation. The shift happened as the firm aims to take advantage of ETH sliding from $2,400 in early May and April to near $2,100.