Key Takeaways:
Ethereum treasury firm Bitmine may decelerate its aggressive ether (ETH) acquisition strategy after accumulating over 4.29% of the total circulating supply in less than a year, Chairman Tom Lee announced at the Consensus 2026 conference.
"At our current buying pace of 100,000 ETH a week, we're going to be there [at 5%] in like six weeks," Lee said during a keynote presentation on Thursday. "I think we’re deciding perhaps we want to accumulate at a somewhat slower pace."
The firm currently holds over 5.1 million ETH, valued at approximately $11.9 billion, according to company statements. The potential slowdown marks a shift for Bitmine, which has been a consistent buyer while other corporate treasuries, like Michael Saylor's Strategy (MSTR), have signaled potential sales to cover obligations. About 85% of Bitmine’s ETH is staked, generating annualized revenue exceeding $300 million.
A deceleration from one of Ethereum's largest corporate buyers could introduce new dynamics for the token's price, which traded down 2.4% to around $2,297 following the remarks. Lee noted the firm is evaluating other uses for capital, including a $4 billion share repurchase program and expanding its institutional staking platform, MAVAN, which stakes assets including Solana (SOL) and Canton (CC).
This article is for informational purposes only and does not constitute investment advice.
