Bitmine (BMNR) slows ether (ETH) purchase pace, buying $53 million in tokens
Bitmine Immersion, the largest publicly traded Ethereum treasury company, bought 26,497 ETH last week, a much smaller purchase than the 120,000 ETH it acquired the prior week. The latest buy, worth about $53 million, raised its total holdings to nearly 5.42 million ETH, or about 4.49% of ether’s circulating supply. The slowdown fits chairman Tom Lee’s stated plan to ease accumulation as the firm nears its goal of owning 5% of ETH supply. Bitmine has still added more than 1 million ETH this year and remains one of the few major digital asset treasury firms actively buying. Its total crypto and cash holdings were $11.6 billion as of May 31, including 203 bitcoin and $446 million in cash. The company is also leaning more on staking income, estimating annualized revenue of about $258 million, with rewards potentially rising toward $300 million through its MAVAN platform.
