MIAMI — Ethereum’s largest financial company, Bitmine (BMNR), could slow the pace of Ethereum ($ETH) The company is inching closer to achieving its accumulation goals, Chairman Tom Lee said Thursday at Consensus 2026 in Miami.
The company has assets of over 5.1 million yen. $ETH Worth about $11.9 billion at current prices, it was originally expected to take five years to accumulate 5%. $ETH supply, Lee said. In fact, as of this week, less than a year after launching the strategy, the company held 4.29%.
“At the current purchasing pace of 100,000 $ETH In his keynote speech, Mr. Lee said, “It will take about six weeks to reach 5% in one week.I think they have probably decided that they want to build up at a slower pace.”
The comments signal a change in tone for Bitmine, which remains one of the few major digital asset repositories that is still actively buying cryptocurrencies while many rivals have paused accumulation during the market downturn. Strategy Inc. (MSTR), the largest corporate Bitcoin holder and another crypto purchaser in recent months, indicated this week that it may sell Bitcoin to cover its dividend obligations, following a proposal from Executive Chairman Michael Saylor.
Lee said Bitmine remains profitable through staking income and cash generation, relieving pressure to liquidate crypto holdings when markets are volatile. Approximately 85% of Bitmine $ETH The holdings are staked, generating over $300 million in annual staking revenue, or approximately $1 million per day.
The company is also evaluating other uses for its capital, including its recently announced $4 billion share repurchase program and further expansion of MAVAN, the institutional staking platform it launched in March. The service currently has approximately $14 billion at stake in digital assets, including: $ETHSolana (SOL), Canton (CC), according to Lee.
Beyond Ethereum, Lee highlighted Bitmine’s investments related to AI and consumer platforms, including Eightco Holdings (ORBS) and MrBeast’s Beast Industries. He explained that Eightco is one of the few publicly traded companies that provides indirect exposure to OpenAI and Sam Altman’s World project.
Throughout his keynote, Lee reiterated his view that Ethereum stands to benefit from two major trends: the tokenization of financial assets and the rise of AI systems that rely on public blockchains for payments and verification.
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