Tom Lee's Bitmine slows ETH buying after accumulating 1M ETH this year

Bitmine (BMNR), led by Tom Lee, announced it has recently slowed its pace of ETH purchases. The company acquired approximately 26,659 ETH, valued at around $63 million, last week—a figure roughly one-fourth of its recent weekly average of 100,000 ETH. The company's total ETH holdings now stand at approximately 5.2 million, accounting for about 4.31% of the total circulating supply. Bitmine Chairman Tom Lee explained that the company decided to adjust its weekly purchase pace as it nears its goal of securing 5% of the total ETH supply. Bitmine added that it has purchased over one million ETH so far this year and is currently staking more than 4.7 million ETH, representing about 90% of its total holdings.