Bitmine will slow down its ETH purchases

Bitmine could soon reduce the pace of its ether purchases. At Consensus 2026 in Miami, Tom Lee indicated that the company is quickly approaching its accumulation goal. This shift also concerns Ethereum, as Strategy considers selling bitcoins to meet its dividend obligations. Bitmine is now preparing a new phase focused on staking, liquidity and share buybacks.

Bitmine is getting closer to its goal faster than expected

After the recent criticism that hit Bitmine over its massive purchases of ETH, Tom Lee gave a more measured signal. The company's president explained that the pace of accumulation could slow down, while the set target is rapidly approaching.

Bitmine, listed under the symbol BMNR, has established itself as the largest Ethereum-related treasury company. According to Tom Lee, the company holds over 5.1 million ETH, or around $11.9 billion at current prices. This position represents 4.29% of the total ether supply.

Initially, the company planned to reach 5% of supply in five years. However, its strategy is moving much faster. Lee explained that the current pace is reaching 100,000 ETH purchased per week. At this rate, Bitmine could reach its goal in about six weeks.

So, the company is now considering slowing down its acquisitions. This decision does not mean a complete cessation of purchases. It rather reflects more measured management, while the target set is rapidly approaching.

Ethereum remains at the heart of the treasury strategy

Ethereum retains a central place in the financial organization of society. Around 85% of ETH held is staked, according to information presented by Tom Lee. This activity generates more than $300 million in annualized revenue, or nearly $1 million per day.

This revenue gives Bitmine significant room to maneuver. They also reduce the pressure to sell digital assets during phases of increased volatility. In a still unstable market, this source of liquidity allows the company to maintain a more flexible strategy.

The context, however, remains cautious for crypto treasury companies. Several players slowed down or suspended their purchases during the market downturn. For its part, Bitmine has continued to accumulate cryptocurrencies, which sets it apart from many competitors.

This position contrasts in particular with that of Strategy, a large corporate holder of bitcoins. The company has indicated that it may sell bitcoins to meet its dividend obligations. In this landscape, Ethereum represents for Tom Lee an asset linked to financial tokenization and the future uses of public blockchains.

Staking, share buybacks and MAVAN take over

After the rapid accumulation of ETH, Bitmine is studying other uses of its capital. The company recently announced a $4 billion share buyback program. This initiative adds to the development of MAVAN, its institutional staking platform launched in March.

MAVAN now holds approximately $14 billion in digital assets. This wallet includes ETH, Solana and Canton, according to the elements presented by Lee. The platform thus reinforces the role of staking in the group's overall strategy.

At the same time, Tom Lee discussed investments linked to artificial intelligence and consumer platforms. He cited Eightco Holdings and Beast Industries, which is associated with MrBeast. According to him, Eightco provides indirect exposure to OpenAI and Sam Altman's World project.

By gradually slowing down its purchases, Bitmine appears to be entering a new phase of strategic maturity, while the Ethereum Foundation accelerates the network's capabilities with Glamsterdam. The company no longer seeks only to accumulate ETH, but to transform this reserve into an income engine through staking, share buybacks and its new institutional platforms. In this context, Bitmine confirms its desire to focus on the long-term development of the ecosystem and the rise of uses linked to tokenized finance and blockchain infrastructures.