Bitmine made its largest ETH purchase this year despite Tom Lee's slowdown suggestion

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Bitmine made its largest ETH purchase this year despite Tom Lee's slowdown suggestion The company bought 111,942 ether last week worth $237 million, ramping up purchases to take advantage of ETH's drop below $2,200. By Krisztian Sandor | Edited by Stephen Alpher May 26, 2026, 1:27 p.m. 1 min read Make preferred on Tom Lee on the Mainstage at Consensus Miami 2026 (CoinDesk) What to know : Bitmine Immersion bought 111,942 ether (ETH) last week, its largest purchase since December, bringing its holdings to nearly 5.4 million tokens. Chairman Tom Lee said the firm is accelerating purchases to take advantage of ether’s pullback below $2,200 and expects to reach its goal of controlling 5% of the supply later in 2026. Bitmine now holds $12.3 billion in crypto and cash, has staked more than 4.7 million ETH, and is generating roughly $276 million in annualized staking revenue. Bitmine Immersion (BMNR), the Ethereum treasury firm helmed by chairman Tom Lee, ramped up purchases again, making its biggest haul since December. The company said Monday it bought 111,942 ether (ETH) last week, worth around $237 million at current prices. That lifted the firm's holdings to almost 5.4 million ETH, about 4.47% of Ethereum’s circulating supply. The purchase marks a renewed acceleration in Bitmine’s buying pace after Lee said earlier in May at Consensus 2026 in Miami that the company planned to slow weekly accumulation. The shift happened as the firm aims to take advantage of ETH sliding from $2,400 in early May and April to near $2,100. "We continue to steadily acquire ETH," Lee said in the statement. "We view the recent pullback of ETH to below $2,200 as an attractive opportunity." Lee added that the firm is expected to reach its goal to corner 5% of ether's supply later in 2026. Bitmine’s total crypto and cash holdings stand at $12.3 billion, according to the report. The company also holds 203 bitcoin, $444 million in cash and equity stakes including investments in Beast Industries and Eightco Holdings. The firm said it has staked more than 4.7 million ETH — about 87% of its holdings — generating approximately $276 million in annualized staking revenue. Ethereum News Digital Asset Treasury More For You Prometheum bets Wall Street distribution is the missing link for tokenized securities By Will Canny , AI Boost | Edited by Stephen Alpher May 25, 2026 Crypto has solved tokenization, but not distribution and Prometheum says broker-dealers and RIAs are the key to bringing digital assets into mainstream finance. What to know : Prometheum launched new infrastructure allowing broker-dealers and RIAs to offer tokenized securities and crypto assets through traditional brokerage accounts. Aaron Kaplan, co-founder and co-CEO of Prometheum says tokenization has advanced faster than distribution, leaving blockchain-based securities without mainstream investor access. The company is betting regulated Wall Street firms will drive... Read full story Latest Crypto News CoinDesk 20 performance update: SUI drops 1.1%, leading index lower 10 minutes ago Strive acquires 1,109 bitcoin, raising total holdings to 16,500 coins 42 minutes ago Strategy taps cash reserve to retire $1.5 billion in convertible debt 1 hour ago Spain joins growing list of countries shutting out Polymarket and Kalshi 1 hour ago Bitcoin demand gauge sinks to worst level since December as spot buying weakens 1 hour ago StablR freezes USDR and EURR after attacker mints $13.5 million in unbacked tokens 2 hours ago Top Stories Ondo Finance founder Nathan Allman dies unexpectedly 7 hours ago Bitcoin ETFs crushed by billions in outflows as Treasuries stifle interest-rate cut hopes 2 hours ago Hyperliquid takes a swing at Polymarket with macro outcome bets 6 hours ago At $322 billion, the stablecoin market value exceeds the FX reserves of 95 nations 7 hours ago Bitcoin risks another lower high as stocks rally, AI tokens outperform 2 hours ago Bitcoin caught between critical onchain support and an options showdown 4 hours ago