Bitmine Immersion Technologies has slowed the pace of its Ethereum buys after previously acquiring more than 100,000 tokens over the last three weeks. The Ether treasury company purchased 26,659 ETH over the last week, down from the over 100,000 tokens a week it was previously maintaining, according to reports.
Bitmine slows Ethereum buys but remains on track for its goal to buy 5% of the token’s 120.7 million circulating supply by the end of the year. The company estimates it will reach its goal of holding 5% of the Ether supply by the end of 2026.
Bitmine slows Ethereum buys from previous weekly pace
The company’s chairman said the firm has decided to slow down its pace of weekly accumulation from the original target. The previous pace of more than 100,000 weekly purchases would have seen the company reach 5% by mid-July, according to wire reports. The adjusted timeline pushes the target date to late 2026.
Bitmine is the largest Ether treasury company and one of the most frequent buyers of the token. The business model draws from Michael Saylor’s Bitcoin treasury firm Strategy. The approach involves accumulating and holding large positions in a single digital asset.
| Metric | Latest | Target |
|---|---|---|
| ETH purchased last week | 26,659 | 100,000+ |
| Total staked Ether | 4.7 million | Entire stash |
| Supply target | — | 5% by end 2026 |
| Annual staking rewards (est.) | $352 million | — |
| ETH supply removed since June 2025 | 4.3% | — |
Staking plans for entire Ether holdings
Bitmine’s total staked Ether stands at over 4.7 million. The company estimates its annual staking rewards will be roughly $352 million once its entire stash is staked. The goal is for Bitmine to eventually stake its entire position.
The company noted that its holdings are essentially reducing available supply and have removed 4.3% of ETH supply since June 30th, 2025. Ether supply has been disinflationary since June 2025 as a result, according to reports.
Blockchain explorer beaconcha.in has tracked over 38 million Ether staked as of Sunday. The volume of staked tokens continues to rise as more participants lock up their holdings to earn yield.
Ether price action and market context
Ether hit an all-time high of $4,946 in August 2025. It dropped in line with the rest of the crypto market towards the end of last year. The token is still down 52% from its peak and has been drifting between $2,274 and $2,411 over the last seven days, according to CoinGecko.
Bitmine’s chairman also doubled down on his belief that a so-called crypto spring has started. He pointed to Ether’s price rising in correlation with software stocks as further evidence. If ETH closes above $2,100 at the end of May 2026, this would be the third consecutive monthly gain, something that has never been seen in a crypto bear market, according to reports.
A close above $2,100 would validate that crypto spring has arrived, the chairman added. The thesis relies on sustained momentum through the end of May to confirm the shift out of bearish conditions.
Treasury strategy and accumulation model
The treasury model involves continuous buying of a single digital asset and staking to generate yield. US regulators have watched the rise of crypto treasury companies closely as the strategy gains traction across the sector. The approach requires significant capital and a long holding horizon.
Bitmine slows Ethereum buys now but the broader trajectory remains upward. The firm has been one of the most aggressive accumulators in the space since adopting the model. The staking component adds a yield layer on top of the base position, which the company projects will generate hundreds of millions annually.
The pace adjustment reflects a shift in timing rather than conviction. The company still intends to reach the 5% threshold, just over a longer period than originally planned.
Next catalyst: whether ETH holds above $2,100 through the end of May.
This article is for information purposes only and does not constitute investment advice. Readers should not act on any information contained here without first consulting an authorised financial adviser. Past performance is not a reliable indicator of future results.
