Bitcoin will buy Ether in 2026 after acquiring 1M ETH

TLDR

After months of rapid accumulation, Bitmin reduced its weekly Ether purchases in 2026. The company bought 26,659 ETH last week, about $63 million at current prices. Bitmine now holds more than 5.2 million ETH, which is equal to 4.31% of the Ethereum distribution supply. Tom Lee said the company slowed the acquisition as it neared its long-term goal of holding a 5% supply. At the beginning of this year, Bitmine received more than 1 million ETH. The company's total crypto and cash holdings have reached $13.4 billion.

Bitumen Immersion Technologies has reduced its weekly Ether purchases after months of rapid accumulation. Chairman Tom Lee confirmed the shift after the company reached a goal of 5% Ethereum supply. The company still holds more than 5.2 million ETH after buying more than 1 million tokens this year.

Bitumen reduces the rate of weekly ether accumulation

Bitmine bought 26,659 ETH last week, which is estimated at $63 million at current prices. However, that figure is roughly a quarter of the latest weekly average. The purchase increased total holdings to over 5.2 million ETH, or about 4.31% of the circulating supply.

Tom Lee announced the change during remarks at Consensus 2026 in Miami. The company said it will reduce its weekly purchases by more than 100,000 ETH. In a statement, Lee said, “Our previous pace of purchases will put us at 5% by mid-July.

The company adjusted its pace as it neared its long-term acquisition target. Lee said he intended to ease purchases as Bitmin approaches the 5% threshold. The company has acquired over 1 million ETH since January 2026.

Despite the broader market decline, bitumen continues to buy ether. Lee said the company is committed to its treasury strategy. It has described as one of the fastest rally times in the crypto sector in recent months.

He also expressed confidence in current market trends and signs of recovery. “We have decided to reduce our weekly collection rate,” Lee said. They attribute the change to time rather than a change in attitude.

Ethereum Holdings and Treasury Composition

Bitmine's total crypto and currency holdings are $13.4 billion. The company holds 201 Bitcoins alongside Ether reserves. It also holds $775 million in cash and equity.

Those equity investments include Beast Industries and Aitco Holdings. However, Ether remains the main asset in the company's treasury. The company focuses its strategy on Ethereum's long-term supply position.

Bitmin has more than 4.7 million ETH of its total holdings. This amount represents more than 90% of the ether balance. Assets held are currently valued at $11.1 billion.

The company operates the MAVAN staking platform to manage these assets. At the beginning of this year, he launched the platform for institutional customers. Bitcoin uses MAVAN for its internal treasury operations.

Lee reiterated his outlook for Ether's price performance. “If ETH closes above $2,100 by the end of May, this will be the third consecutive monthly gain,” he said. He added that such a scratch did not happen during the crypto bear market.

The company continues to monitor Ether's monthly performance levels. Lee linked price strength to improving sentiment in software and growth stocks. What he calls the “crypto spring” continues.