Bitmine Immersion Technologies has reduced the pace of its Ethereum accumulation despite remaining on track to achieve its long term ownership target.
The company’s latest update revealed that its total ETH holdings increased to 5.21 million coins, up from 5.18 million the previous week.
This means Bitmine acquired roughly 30,000 ETH over the past week, a noticeable slowdown compared to earlier accumulation periods where the company regularly purchased more than 100,000 ETH.
Bitmine Adjusts Buying Pace While Maintaining Long Term Target
According to Bitmine Chairman Tom Lee, the reduced pace is intentional.
Lee explained that continuing to buy more than 100,000 ETH per week would have allowed the company to reach ownership of 5% of Ethereum’s total supply by mid July.
Bitmine currently controls approximately 4.3% of Ethereum’s circulating supply and plans to gradually reach the 5% milestone by late 2026 instead.
Despite slowing purchases, Lee emphasized that the company remains extremely bullish on both Ethereum and the broader cryptocurrency market.
Tom Lee Says ‘Crypto Spring’ Has Begun
Lee stated that what he calls “crypto spring” is already underway and highlighted Ethereum as a key asset for diversification ahead of what he expects to be the next major crypto bull cycle.
According to him, Ethereum reaching a specific technical milestone could confirm the end of the current bear market.
Lee said that if ETH closes above $2,100 at the end of May 2026, it would mark three consecutive months of gains, something that has never previously occurred during a crypto bear market.
He argued that such a move would strongly validate the arrival of a new bullish phase for digital assets.
Bitmine Builds Massive Crypto and Investment Portfolio
Since the start of 2026, Bitmine has accumulated more than one million ETH.
Beyond Ethereum, the company’s portfolio also includes 201 BTC, a $200 million investment in Beast Industries, an $88 million stake in Eightco Holdings, and approximately $775 million in cash reserves.
Bitmine currently ranks as the second largest corporate holder of cryptocurrency, behind only Strategy, which recently expanded its Bitcoin holdings once again.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
