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Tom Lee’s Bitmine slows down ether purchases after already buying 1 million tokens this year
The firm bought roughly 26,000 ether last week, a sharp decline from the average of the previous weeks’ 100,000.
May 11, 2026, 12:56 p.m. 2 min read
What to know:
- Bitmine sharply slowed its ether purchases, buying 26,659 ETH last week at a value of $63 million, about a quarter of its recent average weekly pace.
- Chairman Tom Lee said the firm is moderating its buying as it nears its long-term goal of owning 5% of the token’s supply and accumulating more than 1 million ETH since the start of 2026.
- The latest purchase brings Bitmine’s holdings to more than 5.2 million ETH, or roughly 4.31% of the cryptocurrency’s circulating supply.
The purchase lifted Bitmine’s holdings to over 5.2 million ETH, or around 4.31% of ether’s circulating supply, according to a Monday company update.
The update follows comments Lee made last week at Consensus 2026 in Miami, where he said BitMine may begin moderating its buying pace after one of the fastest accumulation runs in the crypto market.
The slowdown follows comments Tom Lee made last week at Consensus 2026 in Miami, where he said Bitmine was considering easing purchases as it approached its long-term goal of acquiring 5% of Ethereum’s supply.
“We have decided to slow down our pace of weekly accumulation from over 100,000 [ETH] per week,” Lee said in Monday’s statement. “Our previous pace of buys would have us reach 5% by mid-July.”
