Bitmine Immersion Technologies has slowed its weekly accumulation of Ether after purchasing over 100,000 tokens in recent weeks. The company holds over 4.7 million Ether and plans to stake its entire holdings, aiming to control 5% of the token’s circulating supply by late 2026.
Bitmine Immersion Technologies has reduced its pace of Ether purchases after acquiring more than 100,000 tokens over the previous three weeks. The company stated it purchased 26,659 ETH last week but remains committed to its goal of holding 5% of Ether’s 120.7 million circulating supply by the end of 2026.
Chairman Tom Lee explained, “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.” He noted the previous buying rate would have achieved the target by mid-July. Bitmine is the largest Ether treasury company and a frequent buyer of the token.
The firm’s total staked Ether stands at over 4.7 million, and it estimates annual staking rewards will be roughly $352 million once its entire stash is staked. Lee stated the intention is to hold and stake all ETH, which reduces available supply. He said, “In other words, ETH supply has been disinflationary since June2025.”
Lee also reiterated his belief that a “crypto spring has commenced.” He pointed to Ether’s price correlation with software stocks as evidence for this new cycle. Ether’s price reached an all-time high of $4,946 in August 2025 but has since declined, currently trading between $2,274 and $2,411 according to market data.
