Bitmine Nears ETH Holding Target; Tom Lee Says It Will Slow Down Its Buying Pace

According to CoinDesk, Tom Lee, Chairman of Bitmine (BMNR), the largest corporate Ethereum treasury company, stated at the Consensus 2026 Miami conference that the company is currently purchasing approximately 100,000 ETH per week. It expects to reach its target of holding 5% of Ethereum’s total supply within six weeks (it currently holds 4.29%), after which it will slow its purchase pace and shift focus toward staking yields and share buybacks. The company currently holds over 5.1 million ETH—valued at approximately $11.9 billion—with 85% already staked, generating annualized staking revenue exceeding $300 million (roughly $1 million per day). Additionally, the company announced a $4 billion share buyback program and will continue expanding its institutional staking platform, MAVAN, which currently manages approximately $14 billion in digital assets.