BitMine Slows Ethereum Purchases

CryptoProwl

Mon, May 11, 2026 astatine 12:17 PM CDT 1 min read

BitMine Immersion Technologies (NYSE: $BMNR) has slowed its Ethereum (CRYPTO: $ETH) purchases implicit the past week. 

The slowdown comes aft months of assertive buying that has propelled BitMine to go the world’s largest Ethereum treasury company.

The steadfast led by Chairman Tom Lee bought 26,659 Ethereum implicit the past week, worthy astir $63 cardinal U.S. That's a 4th of the mean play acquisition made successful caller weeks.

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The acquisition lifted BitMine’s holdings of ETH to much than 5.2 cardinal tokens, equivalent to 4.31% of Ethereum’s full circulating supply.

The slowdown successful purchases comes aft Lee precocious said that BitMine mightiness commencement moderating its buying gait aft the institution bought much than 1 cardinal Ethereum tokens this year. 

Lee noted that BitMine is closing successful connected its stated extremity to get 5% of Ethereum’s supply.

BitMine has been 1 of the fewer treasury firms to consistently bargain crypto during the marketplace downturn that began past autumn. 

The company’s full crypto and currency holdings present basal astatine $13.4 cardinal U.S. 

BitMine continues to grow its staking operations. The steadfast present has implicit 4.7 cardinal ETH staked, adjacent to 90% of its holdings and representing astir $11.1 cardinal U.S. worthy of assets.

BMNR banal is down 28% this twelvemonth and trading astatine $22.34 U.S. per share.