CoinDesk
Tom Lee's Bitmine Immersion Technologies (BMNR) dialed back its ether buying last week, purchasing 26,659 ETH for roughly $63 million — about a quarter of its recent weekly average. The pullback is deliberate: Lee confirmed the firm is moderating its pace after accumulating more than 1 million ETH since the start of 2026, bringing total holdings to over 5.2 million ETH, or approximately 4.31% of circulating supply.
At Consensus 2026 in Miami, Lee said the previous pace of over 100,000 ETH per week would have hit the 5% target by mid-July. The firm is now stretching that timeline rather than abandoning the goal. Total crypto and cash holdings stand at $13.4 billion, with over 4.7 million ETH — more than 90% of the stack — actively staked through its MAVAN platform, generating ongoing rewards.
Lee also flagged a technical signal worth watching: if ETH closes above $2,100 at end of May,…
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