Bitmine Reduces Ethereum Acquisition Speed While Maintaining 5% Supply Target for December
After an intensive period of rapid token accumulation spanning several weeks, Bitmine has reduced its Ethereum purchasing velocity while confirming its objective to control 5% of total Ether supply remains achievable by late 2026.
Following a period of accelerated acquisition that saw the company secure more than 100,000 tokens during the past three weeks, Bitmine Immersion Technologies, an Ether treasury company, has reduced the velocity of its Ethereum purchases.
In an announcement made Monday, Bitmine revealed it acquired 26,659 ETH during the previous week, representing a significant decrease from the more than 100,000 tokens weekly it had been consistently accumulating, while emphasizing that its objective to purchase 5% of the cryptocurrency's 120.7 million circulating supply before year-end remains achievable.
"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. "Our previous pace of >100k weekly buys would have us reach 5% by mid-July."
As the largest Ethereum treasury company and among the most active purchasers of the cryptocurrency, Bitmine follows a business strategy modeled after Michael Saylor's Bitcoin treasury firm Strategy.
Bitmine plans staking of entire Ether stash
The company's current staked Ethereum holdings exceed 4.7 million tokens, with Bitmine projecting that annual staking rewards will reach approximately $352 million after its complete holdings are staked. Data from blockchain explorer beaconcha.in indicates that more than 38 million Ether had been staked as of Sunday.
According to Lee, Bitmine's ultimate objective involves staking its complete Ethereum holdings.
"We intend to hold and stake our ETH holdings, which means our ETH holdings are essentially reducing available supply of ETH and removed 4.3% of ETH supply since June 30th, 2025. In other words, ETH supply has been disinflationary since June 2025," he said.
In August 2025, Ethereum reached its all-time high of $4,946, though it subsequently declined alongside the broader cryptocurrency market toward the conclusion of the previous year. The token remains 52% below its peak value and has fluctuated within a range of $2,274 to $2,411 during the past seven days, based on data from CoinGecko.
Crypto spring in full swing
Lee reinforced his conviction that what he describes as a "crypto spring" has begun, citing Ethereum's price movement in tandem with software equities as additional supporting evidence.
"Crypto spring has commenced and we wanted to highlight the importance of owning ETH as a source of diversification, and the likely drivers of this coming 'crypto bull' cycle," he added.
"If ETH closes above $2,100 at the end of May 2026, this would be the third consecutive monthly gain – this has never been seen in a crypto bear market. Thus, a close above $2,100 would validate 'crypto spring' has arrived."