Bitmine (BMNR), Ethereum’s largest treasury, bought just 7,430 ether (ETH) last week, slowing its buying spree while redirecting capital into a share buyback.
The latest purchase, valued at 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 an update from the company on Monday.
BMNR rose 2.4% in pre-market trading.
The purchase marks one of the company’s smallest weekly additions since it launched its Ethereum treasury strategy in June 2025. By comparison, the company bought more than 111,000 ETH during one week in May and regularly acquired tens of thousands of tokens during the first half of the year. The company is getting closer to its goal of cornering 5% of the ETH supply.
Chairman Thomas “Tom” Lee attributed the slowdown to the company’s decision to buy back approximately 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 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.
