Tom Lee's Bitmine slowed ether purchases as it bought back $86 million in stock.
BitMine has slowed its weekly Ethereum acquisition rate as it prioritizes an $86 million stock buyback program. Despite the reduced pace, the company continues to hold a significant portion of the circulating ETH supply and generates revenue through its staking platform.
Why it matters
The shift in capital allocation highlights how major crypto-treasury firms balance aggressive asset accumulation with shareholder return strategies.
The latest purchase, worth about $14 million at ether's current price of $1,879, lifted BitMine's holdings to 5,78 million ETH, or roughly 4.8% of Ethereum's circulating supply, according to a Monday company update.
BMNR was 2.4% higher in pre-market trading.
The purchase marks one of firm’s smallest weekly additions since launching its Ethereum treasury strategy in June 2025. By comparison, the firm bought more than 111,000 ETH during one week in May and had regularly acquired tens of thousands of tokens throughout the first half of the year. The firm is nearing its goal to corner 5% of ETH supply.
Chairman Thomas "Tom" Lee attributed the slowdown to the company's decision to repurchase approximately 5.5 million shares at an average price of $15.62 under its previously authorized $4 billion buyback program.
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