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Bitmine to slow down ether purchases as it nears accumulation goal, Tom Lee says
At the current pace of purchases, Lee said his Ethereum treasury giant would reach its 5% ether accumulation goal in six weeks, then shift its focus to staking and share buybacks.
May 7, 2026, 6:17 p.m. 2 min read
What to know:
- Tom Lee said Bitmine may slow its ETH purchases as it nears its 5% supply target.
- The firm has recently been acquiring about 100,000 ETH per week and could hit its 5% goal within six weeks.
- Lee’s remarks come as Strategy, the largest corporate bitcoin holder, signaled it may sell bitcoin to meet dividend obligations.
“At our current buying pace of 100,000 ETH a week, we’re going to be there [at 5%] in like six weeks,” Lee said during a keynote presentation. “I think we’re deciding perhaps we want to accumulate at a somewhat slower pace.”
The comments mark a shift in tone for Bitmine, which has remained one of the few large digital asset treasuries still actively buying crypto while many rivals paused accumulation during the market downturn. Strategy (MSTR), the largest corporate bitcoin holder and another consistent crypto buyer over the past months, indicated this week it may sell bitcoin to cover dividend obligations, per Executive Chairman Michael Saylor’s suggestion.
