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Bitmine slows ether purchase pace, buying $53 million worth last week
The Ethereum treasury firm cut weekly purchases by more than 75% after the previous week’s 112,000 ETH buying spree.
Jun 1, 2026, 12:55 p.m. 2 min read
What to know:
- Bitmine purchased 26,497 ETH last week, worth about $53 million at current prices.
- The purchase pace slowed sharply from the prior week’s 120,000 ETH acquisition.
- The firm now holds 5.42 million ETH, or 4.49% of Ethereum’s circulating supply.
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.
Despite the slower pace, Bitmine remains one of the few large digital asset treasury firms still actively adding to its crypto holdings. Even Michael Saylor’s bitcoin juggernaut Strategy (MSTR) sold $2.5 million bitcoin last week. Bitmine has acquired more than 1 million ETH since the start of the year and now sits about 90% of the way toward its stated goal of controlling 5% of the network’s supply.
