Hassan Maishera
TL;DR
-
Lee said his Ethereum treasury giant would reach its 5% ether accumulation goal in six weeks.
- The firm has recently been acquiring about 100,000 ETH per week.
Bitmine to Slow Down Ether Purchases as it Nears the Accumulation Goal
Bitmine (BMNR), the largest Ethereum treasury firm, may slow its pace of ether (ETH) accumulation as it nears its goal of holding 5% of the total ETH supply, Chairman Tom Lee revealed Thursday at Consensus 2026 in Miami.
Currently holding over 5.1 million ETH, valued at around $11.9 billion, Bitmine originally anticipated it would take five years to reach its goal of accumulating 5% of the ETH supply.
However, as of this week, the firm holds 4.29%, and with its current buying pace of 100,000 ETH per week, it is set to reach the 5% target in just six weeks.
"We’re deciding perhaps we want to accumulate at a somewhat slower pace," Lee said during his keynote presentation, indicating a shift in the firm’s strategy.
Bitmine’s decision to slow down comes as one of the few large digital asset treasuries still actively acquiring crypto.
Many other institutional players paused their accumulation strategies during the market downturn, with firms like Strategy (MSTR) — the largest corporate bitcoin holder — suggesting it may sell bitcoin to meet dividend obligations.
Lee highlighted that Bitmine remains profitable through staking income and cash generation, which reduces the pressure to liquidate crypto holdings during periods of volatility.
The firm’s Ethereum holdings are 85% staked, generating annualized staking revenue of over $300 million, or approximately $1 million per day.
Additionally, Bitmine is exploring other uses for its capital, such as a recently announced $4 billion share repurchase program and expanding MAVAN, its institutional staking platform.
MAVAN currently handles about $14 billion in digital assets, including ETH, Solana (SOL), and Canton (CC).
Beyond Ethereum, Lee also pointed to Bitmine’s investments in AI and consumer platforms, including Eightco Holdings (ORBS) and MrBeast’s Beast Industries.
He noted that Eightco provides one of the few ways for public investors to gain indirect exposure to OpenAI and Sam Altman’s World project.
Lee concluded his keynote by emphasizing his belief that Ethereum stands to benefit from two significant trends: the tokenization of financial assets and the increasing adoption of AI systems that rely on public blockchains for payments and verification.
