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Bitmine slows ether purchase pace, buying $53 million worth last week
Key takeaways
- The purchase was down more than 75% from the prior week's 120,000 ETH haul.
- Despite the slower pace, Bitmine remains one of the few large digital asset treasury firms still actively adding to its crypto holdings.
- "ETH prices are not reflecting the strengthening of Ethereum fundamentals," Lee said in Monday's statement.
The latest acquisition, worth roughly $53 million at current ETH prices, lifted Bitmine's holdings to nearly 5.42 million tokens, or approximately 4.49% of ether's circulating supply, according to a Monday company update.
The purchase was down more than 75% from the prior week's 120,000 ETH haul.
The slowdown comes after Thomas "Tom" Lee, chairman of Bitmine, said in May at Consensus 2026 that the company planned to moderate accumulation as it was rapidly approaching its long-term goal of owning 5% of ETH's supply.
Article preview — originally published by CoinDesk. Full story at the source.
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