Tom Lee's Bitmine Drastically Reduces Weekly Ethereum Purchases to 26,000... 5% Supply Share Target Within Reach

Bitmine, an institutional treasury giant that has shown aggressive movement by accumulating over 1 million Ethereum (ETH) in 2026 alone, has significantly slowed its purchase rate. According to reports on May 11, 2026, Bitmine purchased only about 26,000 tokens last week, a 74% drop from its previous weekly average of 100,000. This shift suggests that Bitmine, the world's largest Ethereum treasury holder, is nearing its ambitious goal of securing 5% of the total supply.

This reduction in Bitmine's purchase volume is interpreted as an adjustment following the achievement of strategic goals rather than a simple decline in investment sentiment. The 26,000 ETH purchased last week is a stark contrast to the weekly peak of 101,627 ETH recorded in April, showing that Bitmine is transitioning from a "structural buyer" in the market to a "maintenance and management phase." The table below summarizes Bitmine's recent purchase metrics and cumulative performance.

Considering the current purchase rate, Bitmine is very close to its goal of securing 5% of the total Ethereum supply.

Tom Lee, Chairman of Bitmine, had already signaled a potential slowdown in Ethereum accumulation at 'Consensus 2026' held in Miami on May 7. Since the beginning of 2026, Bitmine has been relentlessly acquiring volume, starting with weekly purchases of approximately $76 million for four months. Recently, he mentioned the arrival of 'Crypto Spring,' positively evaluating the maturation of market infrastructure and the improvement of the regulatory environment.

Record Accumulation in 2026 and the 5% Market Share Target

Bitmine has demonstrated an unrivaled presence in the virtual asset market by adding more than 1 million Ethereum this year alone. Currently, Bitmine's Ethereum holdings exceed 5.1 million, accounting for approximately 4.21% of the total circulating supply. The following chart visually shows the rapid change in purchase volume over the past few weeks.

• Weekly purchase volume as of May 11, 2026: 26,000 ETH
• Previous weekly average purchase volume: 100,000 ETH
• Cumulative purchases since the beginning of 2026: Over 1,000,000 ETH
• Current total holdings: Approx. 5,100,000 ETH (valued at approx. $11.9 billion)

Bitmine's strategy extends beyond simply holding assets to generating revenue through staking. According to filings submitted to the SEC on April 13, 2026, Bitmine has already staked more than 3.33 million Ethereum, expecting annual rewards of approximately $310 million. This is an example of how institutional investors are building sustainable profit models through network validation participation beyond simple capital gains.

Market experts compare Bitmine's moves to MicroStrategy's Bitcoin accumulation strategy, analyzing that its influence in the Ethereum market has reached its peak. Chairman Tom Lee cited progress on the 'CLARITY Act' related to digital asset regulation as a key driver of market maturity, and Bitmine is expected to maintain a cautious purchasing stance for the remainder of the period toward its final goal of securing 6 million units (5%).

Scale of Treasury Value and Staking Revenue

The value of Bitmine's Ethereum holdings currently reaches approximately $11.9 billion, an unprecedented scale for corporate treasury assets. The company manages a significant portion of its assets through staking partners like MAVAN, targeting an annual yield of around 2.89%. This large-scale staking strategy has the dual effect of strengthening the security of the Ethereum network while providing a stable cash flow for Bitmine.

Chairman Tom Lee emphasized at Paris Blockchain Week 2026 on May 4 that the combination of tokenization and artificial intelligence is leading the maturity of digital assets. He suggested that Bitmine's treasury strategy is at the center of this macro trend, adding that institutional-grade investors are acting as a buffer to absorb market volatility.

Digital assets are entering a true period of maturity driven by the two forces of tokenization and AI.

The 5% share targeted by Bitmine corresponds to approximately 6 million tokens, which is expected to be achievable within a few months even at the current slowed pace. Bitmine plans to continue strategic purchase adjustments in the future to complete its goal without causing sudden market volatility. This will be an important turning point where the Ethereum market transitions from constant buying by large institutions to a gradual expansion of holdings.