Ether treasury company Bitmine Immersion Technologies has slowed its pace of Ether purchases after previously increasing its purchase rate and acquiring over 100,000 tokens in the last three weeks.

Bitcoin he said on Monday that it had purchased 26,659 ETH over the past week, down from the more than 100,000 tokens per week it previously held, but still on track to meet its goal of purchasing 5% of the 120.7 million tokens in circulation by the end of the year.

“We have decided to slow the rate of weekly accumulation from > 100,000 per week because we originally aimed to reach the “alchemical level of 5%” target by the end of 2026.” – said Bitmine CEO Tom Lee. “Our previous pace of >100,000 purchases per week would mean we would reach 5% by mid-July.

Bitmine is the largest Ether treasury company and one of the most frequent token buyers, a business model it adopted from Bitcoin treasury firm Michael Saylor Strategy.

Bitmine estimates that it will achieve its goal of maintaining 5% of Ether supply by the end of 2026. Source: Bitcoin

Bitmine plans to stake the entire Ether stash

The total value of Ether staked at Bitmine is over 4.7 million, and the company estimates that its annual staking rewards will be approximately $352 million after the entire supply is staked. Blockchain explorer, beaconcha.in, has tracked as of Sunday, over 38 million Ether had been staked.

Lee said Bitmine’s goal is to eventually stake its entire stash.

“We intend to hold and stake our ETH holdings, which means our ETH holdings essentially reduce the available ETH supply and remove 4.3% of the ETH supply as of June 30, 2025. In other words, the ETH supply as of June 2025 is showing disinflation,” he said.

Bitmine staked over 4.7 million Ether. Source: Bitcoin

Ether hit an all-time high of $4,946 in August 2025, but fell along with the rest of the cryptocurrency market overdue last year. It is still 52% below its peak and has fluctuated between $2,274 and $2,411 over the past seven days, According to this CoinGecko.

Crypto spring is in full swing

Lee also doubled down on his belief that the so-called “crypto spring” has begun, and pointed to the augment in Ether prices in correlation with software stock quotes as further evidence.

“Crypto spring has begun and we wanted to highlight the importance of holding ETH as a source of diversification and the likely drivers of the upcoming crypto bull cycle,” he added.

“If ETH closes above $2,100 at the end of May 2026, it will be the third consecutive monthly increase – never before seen in a crypto bear market. Therefore, a close above $2,100 would confirm the arrival of a ‘crypto spring.’

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