Ethereum
Bitmine may slow ethereum purchases as goal nears, tom lee says
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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.
Ethereum whales have added significant holdings while bitcoin maintains market lead amid rising altcoin activity.
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Coal in Old School RuneScape has surpassed Ethereum in yearly value growth. From May 2025 to May 2026, OSRS coal rose by about 42.65 percent, compared to Ethereum's 31.84 percent increase. The comparison was spotted by the official X account of digital currency trading platform Arkham.
Building on recent accumulation, Bitmine Immersion Technologies added 60,976 ether last week—its largest 2026 weekly purchase—pushing holdings past 4.5 million tokens despite $7.8 billion unrealized losses. Chairman Thomas Lee views prices as nearing the end of a 'mini-crypto winter,' justifying faster buying. Staking now yields $174 million annually.
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Bitcoin traded around $72,700 on Thursday, maintaining gains above $70,000 but pausing its recent breakout without pushing toward $80,000. Ether also saw modest increases of less than 1%, as investors assessed macroeconomic risks and derivatives activity. Broader market indices for major cryptocurrencies rose about 3%, while sectors like DeFi showed little movement.
Following an initial $128 billion crypto market plunge triggered by US and Israeli strikes on Iran, Bitcoin has rebounded toward $67,000 amid Iran's confirmation that the attacks killed Supreme Leader Ayatollah Ali Khamenei. Ethereum surged over 6% to near $2,000 as markets stabilized, despite oil supply fears and inflation concerns.
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Vitalik Buterin has outlined a two-part plan to address key bottlenecks in Ethereum's execution layer, focusing on the state tree and virtual machine. The proposal aims to improve efficiency for zero-knowledge proofs, shifting emphasis from Layer 2 solutions to core protocol changes. It includes replacing the current state tree structure and exploring a transition to a RISC-V-based virtual machine.
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