Bitmine made its largest ETH purchase this year despite Tom Lee's slowdown suggestion

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Bitmine made its largest ETH purchase this year despite Tom Lee's slowdown suggestion The company bought 111,942 ether last week worth $237 million, ramping up purchases to take advantage of ETH's drop below $2,200. What to know: - Bitmine Immersion bought 111,942 ether (ETH) last week, its largest purchase since December, bringing its holdings to nearly 5.4 million tokens. - Chairman Tom Lee said the firm is accelerating purchases to take advantage of ether’s pullback below $2,200 and expects to reach its goal of controlling 5% of the supply later in 2026. - Bitmine now holds $12.3 billion in crypto and cash, has staked more than 4.7 million ETH, and is generating roughly $276 million in annualized staking revenue. Bitmine Immersion (BMNR), the Ethereum treasury firm helmed by chairman Tom Lee, ramped up purchases again, making its biggest haul since December. The company said Monday it bought 111,942 ether (ETH) last week, worth around $237 million at current prices. That lifted the firm's holdings to almost 5.4 million ETH, about 4.47% of Ethereum’s circulating supply. The purchase marks a renewed acceleration in Bitmine’s buying pace after Lee said earlier in May at Consensus 2026 in Miami that the company planned to slow weekly accumulation. The shift happened as the firm aims to take advantage of ETH sliding from $2,400 in early May and April to near $2,100. "We continue to steadily acquire ETH," Lee said in the statement. "We view the recent pullback of ETH to below $2,200 as an attractive opportunity." Lee added that the firm is expected to reach its goal to corner 5% of ether's supply later in 2026. Bitmine’s total crypto and cash holdings stand at $12.3 billion, according to the report. The company also holds 203 bitcoin, $444 million in cash and equity stakes including investments in Beast Industries and Eightco Holdings. The firm said it has staked more than 4.7 million ETH — about 87% of its holdings — generating approximately $276 million in annualized staking revenue. More For You Crypto has solved tokenization, but not distribution and Prometheum says broker-dealers and RIAs are the key to bringing digital assets into mainstream finance. What to know: - Prometheum launched new infrastructure allowing broker-dealers and RIAs to offer tokenized securities and crypto assets through traditional brokerage accounts. - Aaron Kaplan, co-founder and co-CEO of Prometheum says tokenization has advanced faster than distribution, leaving blockchain-based securities without mainstream investor access. - The company is betting regulated Wall Street firms will drive...

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