Bitmine Immersion Technologies has adjusted its purchasing strategy for Ether, reducing its weekly acquisition from over 100,000 tokens to 26,659 ETH in the past week. The company, aiming to secure 5% of Ether's circulating supply, has set a target for the end of 2026 to achieve this goal.
Tom Lee, chairman of Bitmine, stated that the previous pace would have led to reaching the 5% target by mid-July but has now opted for a slower accumulation strategy. The firm has already amassed more than 100,000 tokens in the last three weeks.
Bitmine's staked Ether currently exceeds 4.7 million, with anticipated annual staking rewards of approximately $352 million. The company plans to stake its entire Ether inventory, contributing to a reduction in the available supply, which has reportedly decreased by 4.3% since June 30, 2025.
Despite Ether's all-time high of $4,946 in August 2025, the cryptocurrency is currently down 52% from that peak, fluctuating between $2,274 and $2,411 in the last week, according to CoinGecko.