Bitmine Immersion Technologies is considering slowing its purchases of ether after rapidly accumulating a large stake in the cryptocurrency. Chairman Tom Lee made the remarks during a keynote at Consensus 2026 in Miami on Thursday. The firm has amassed over 5.1 million ETH valued at approximately $11.9 billion.
Lee said the company holds 4.29 percent of the total ETH supply, far ahead of its original five-year timeline. At its current pace of buying about 100,000 ETH per week, Bitmine could reach its 5 percent target within six weeks. He indicated the firm may then shift focus toward staking and share buybacks instead of continued aggressive accumulation.
