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Bitmine slows ether purchase pace, buying $53 million worth last week

The Ethereum treasury firm cut weekly purchases by more than 75% after the previous week's 112,000 ETH buying spree.

By Krisztian Sandor|Edited by Stephen Alpher Jun 1, 2026, 12:55 p.m. 2 min read[Make preferred on ](https://www.google.com/preferences/source?q= Lee, chairman of Bitmine and cofounder of Fundstrat, speaking at Consensus 2026 in Miami #### What to know:

• Bitmine purchased 26,497 ETH last week, worth about $53 million at current prices.
• The purchase pace slowed sharply from the prior week's 120,000 ETH acquisition.
• The firm now holds 5.42 million ETH, or 4.49% of Ethereum's circulating supply.

Bitmine Immersion (BMNR), the largest publicly-traded Ethereum treasury firm, bought 26,497 ether (ETH) last week, sharply reducing the pace of accumulation after making its largest purchase of 2026 just a week earlier.

The latest acquisition, worth roughly $53 million at current ETH prices, lifted Bitmine's holdings to nearly 5.42 million tokens, or approximately 4.49% of ether's circulating supply, according to a Monday company update.

The purchase was down more than 75% from the prior week's 120,000 ETH haul.

The slowdown comes after Thomas "Tom" Lee, chairman of Bitmine, said in May at Consensus 2026 that the company planned to moderate accumulation as it was rapidly approaching its long-term goal of owning 5% of ETH's supply.

Despite the slower pace, Bitmine remains one of the few large digital asset treasury firms still actively adding to its crypto holdings. Even Michael Saylor's bitcoin juggernaut Strategy (MSTR) sold $2.5 million bitcoin last week. Bitmine has acquired more than 1 million ETH since the start of the year and now sits about 90% of the way toward its stated goal of controlling 5% of the network's supply.

"ETH prices are not reflecting the strengthening of Ethereum fundamentals," Lee said in Monday's statement. "But then again, this is not surprising given we are in the early stages of crypto spring."

Bitmine's total crypto and cash holdings stood at $11.6 billion as of May 31. In addition to its ETH treasury, the company held 203 bitcoin, $446 million in cash, and stakes in Beast Industries and Eightco Holdings.

The firm has increasingly focused on generating income from its holdings through staking. The company estimates its staking operations generate roughly $258 million in annualized revenue, with projected rewards approaching $300 million annually through its MAVAN staking platform.

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Cardano Summit 2026 canceled after community votes against Foundation funding proposal

Por Sam Reynolds|Editado por Jamie Crawleyhá 2 horasThe Cardano Foundation's flagship conference was scrapped after a funding proposal failed to secure the two-thirds support required under the blockchain's new governance system.

O que saber:

• Cardano’s flagship 2026 Summit in Singapore has been canceled after a treasury funding proposal narrowly failed to reach the required two-thirds supermajority under the network’s new governance rules.
• The proposal, which sought millions of ADA for the annual gathering, won majority backing from delegated representatives but still fell short, while.

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