Bitmine Adjusts Ether Purchase Strategy as Accumulation Goal Nears
Bitmine plans to decrease its ether purchases as it approaches a 5% accumulation target, according to Chairman Tom Lee. The firm, which currently holds over 5.1 million ETH valued at approximately $11.9 billion, could reach this target within six weeks, leading to a shift towards staking and share buybacks, as reported by CoinDesk.
Bitmine, the largest Ethereum treasury firm, is considering slowing the pace of its ether (ETH) purchases as it nears its goal of accumulating 5% of the total ETH supply. Chairman Tom Lee shared this update during his keynote address at Consensus 2026 in Miami on May 7, 2026. Currently, the firm has been acquiring about 100,000 ETH per week and has reached an accumulation level of approximately 4.29% of the supply. At its current rate, Bitmine could achieve its goal in around six weeks.
Previously, Bitmine had anticipated that reaching a 5% stake in ETH would take five years. Lee noted that the company's strategy reflects a notable contrast to many other large digital asset firms that have paused their acquisitions due to recent market downturns. For context, Strategy (MSTR), noted for being the largest corporate bitcoin holder, is considering selling bitcoin to meet its dividend obligations.
Bitmine distinguishes itself by remaining profitable through staking income and cash generation, which alleviates pressure to sell crypto assets during volatile periods. About 85% of its ETH holdings are currently staked, generating annualized staking revenue exceeding $300 million, equivalent to roughly $1 million per day. In addition to its ETH strategy, Bitmine has initiated a $4 billion share repurchase program and plans to expand its institutional staking platform, MAVAN, which has attracted around $14 billion in digital assets including ETH, Solana (SOL), and Canton (CC).
Lee also mentioned Bitmine's investments in artificial intelligence and consumer platforms, like Eightco Holdings (ORBS) and MrBeast’s Beast Industries. He considers Eightco a rare publicly traded entity that indirectly exposes investors to OpenAI and related projects. Throughout his address, Lee emphasized that Ethereum is poised to benefit significantly from the tokenization of financial assets and the increasing reliance of AI systems on public blockchains for both payments and verification processes.
Summary based on original reporting by Krisztian Sandor at CoinDesk, originally published May 7, 2026. SolanaWire does not republish source content.
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