Bitmine Immersion (BMNR), a leading publicly traded Ethereum treasury firm, reported a marked decline in its ether acquisitions last week, purchasing 26,497 ETH valued at approximately $53 million. This figure represents a drastic reduction of over 75% from the previous week, when the firm acquired an impressive 120,000 ETH.
Following this latest transaction, Bitmine's total holdings have reached about 5.42 million ETH, which constitutes roughly 4.49% of the entire circulating supply of Ethereum. This shift in purchasing strategy aligns with comments from chairman Tom Lee, who indicated at the Consensus 2026 event that the firm aims to moderate its buying as it approaches its long-term goal of holding 5% of the total ETH supply.
Despite the slowdown, Bitmine remains one of the few significant digital asset firms actively increasing its crypto holdings, contrasting with other companies such as Michael Saylor's Strategy (MSTR), which recently divested $2.5 million in bitcoin. Since the start of the year, Bitmine has accumulated over 1 million ETH, nearing its target of controlling 5% of Ethereum's network supply.
