Tech · Cointelegraph
Bitmine slows Ethereum picks up, targets December to own 5% of supply
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Tom Lee doubles down on the crypto spring, points to the Ether price rising in correlation with software stocks as further evidence.
Key facts
- We have decided to slow down our pace of weekly accumulation from >100,000 per week as we originally targeted reaching the ‘alchemy of 5%’ target in late 2026,” Bitmine chairman Tom Lee said
- The team intend to hold and stake their ETH holdings, which means their ETH holdings are reducing available supply of ETH and removed 4.3% of ETH supply since June 30th, 2025
- Bitmine's total staked Ether stands at over 4.7 million, and the company estimates its annual staking rewards will be roughly $352 million once its entire stash is staked
- Ether hit an all-time high of $4,946 in August 2025, but it dropped in line with the rest of the crypto market toward the end of last year
Summary
Ether treasury company Bitmine Immersion Technologies has slowed the pace of its Ether purchases after previously increasing its buying rate and acquiring more than 100,000 tokens over the last three weeks. Bitmine said on Monday that it purchased 26,659 ETH over the last week, down from the over 100,000 tokens a week it was previously maintaining, but that it was still on track for its goal to buy 5% of the token’s 120.7 million circulating supply by the end of the year. “We have decided to slow down our pace of weekly accumulation from >100,000 per week as we originally targeted reaching the ‘alchemy of 5%’ target in late 2026,” Bitmine chairman Tom Lee said.