Bitmine Adds 26,497 ETH, Bringing Treasury to 5.42M Coins Worth $10.85B as Accumulation Pace Slows
By
Jamie Redman
Sesame, salt, and substance. A flagship bake.
Summary
Bitmine Immersion Technologies, led by Chairman Tom Lee, added 26,497 ETH (worth ~$53M at ~$2,003 per ETH) to its treasury, bringing total holdings to 5,416,901 coins valued at ~$10.85 billion — nearing 5% of Ethereum's entire circulating supply. This marks a deliberate slowdown from previous weeks where the company acquired 111,942–120,000 ETH weekly, as Lee shifts focus toward maximizing existing holdings rather than aggressive accumulation.
Key quotes
· 3 pulledThe purchase, worth approximately $53 million at roughly $2,003 per ETH, marks a significant pullback from prior weeks.
Bitmine had acquired between 111,942 and 120,000 ETH the previous week alone.
Chairman Tom Lee recently guided the company toward moderating new purchases while shifting focus toward maximizing
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