“We continue to steadily acquire ETH, with Bitmine now owning nearly 5.4 million ETH tokens,” Lee said in a statement.
1/ BitMine provided its latest holdings update for May 26, 2026
Bitmine’s goal is to own 5% of Ether’s circulating supply, which currently stands at 120.7 million tokens. To get there, the company still needs around 644,596 ETH — a gap Lee said will be closed sometime this year.
The firm had slowed its buying pace earlier in May after snapping up more than 100,000 ETH per week for three straight weeks before resuming with this latest purchase.
Ether hit an all-time high of $4,946 in August 2025 but has dropped more than 58% since then. Lee has previously argued that steep pullbacks in ETH prices represent buying opportunities rather than warning signs.
Staking Pressure Builds Across IndustryReports from staking infrastructure provider Everstake say ETH treasury companies are under mounting pressure to generate income through staking and other yield methods.
The appeal of simply holding Ether as a public company has been dulled by the growing popularity of spot crypto exchange-traded funds, reports say.
Staked supply has hit a fresh record. Data shows more than 39 million ETH — roughly 32% of total supply — is currently locked in, with another 3.3 million waiting in the entry queue.
About 234,368 ETH is sitting in the exit queue.
Featured image from Unsplash, chart from TradingView
