Bitmine Slows Ethereum Accumulation, Eyes 5% Supply Stake by December

Bitmine Immersion Technologies has slowed its Ethereum accumulation after several weeks of unusually aggressive buying. The company said it purchased 26,659 ETH over the past week, a sharp drop from prior levels when it was acquiring more than 100,000 ETH weekly.

Even with the reduced pace, Bitmine reiterated its long-term goal of holding 5% of Ethereum’s circulating supply by the end of the year. Chairman Tom Lee explained that the company deliberately adjusted its strategy after realizing its earlier buying rate would have put it far ahead of schedule—potentially reaching the target as early as mid-July instead of late 2026, as originally intended.

Source: Bitmine Immersion Technologies