Bitmine (BMNR), the largest Ethereum treasury company, purchased only 7,430 ether (ETH) last week, reducing its buying spree by redirecting capital into a stock buyback.
The latest purchase, worth about $14 million at the current ether price of $1,879, brought BitMine’s holdings to 5.78 million ETH, or about 4.8% of Ethereum’s circulating supply, according to a company update Monday.
BMNR was up 2.4% in pre-market trading.
The purchase marks one of the company’s smallest weekly additions since launching its Ethereum treasury strategy in June 2025. For comparison, the company purchased over 111,000 ETH in one week in May and has steadily acquired tens of thousands of tokens throughout the first half of the year. The company is getting closer to its goal of capturing 5% of the ETH supply.
Chairman Thomas “Tom” Lee attributed the slowdown to the company’s decision to repurchase about 5.5 million shares at an average price of $15.62 under its previously authorized $4 billion repurchase program.
“The reduced pace of purchases reflects the fact that Bitmine repurchased 5.5 million common shares,” Lee said. He added that the company has purchased ETH every week since adopting its treasury strategy just over a year ago.
