Bitmine Immersion (BMNR) kept adding Ethereum to its balance sheet last week, though the pace slowed sharply. The company bought 7,391 ETH, its smallest weekly increase this year, a clear drop from earlier in 2026 when it was regularly acquiring more than 100,000 ETH in a week.
At about $1,915 per ETH, the latest purchase was worth roughly $14.2 million. That brought Bitmine’s Ethereum holdings to more than 5.8 million ETH, or about 4.8% of Ethereum’s total supply, leaving the company within reach of its stated goal of holding 5% of all ETH.
Tom Lee says a slower buying pace was expected
Bitmine chairman Tom Lee had previously signaled that once the company moved closer to its end goal of controlling 5% of Ethereum’s total supply, a slower accumulation pace would be inevitable.
Capital allocation shifts toward buybacks
More recently, Bitmine has turned its capital strategy toward share repurchases. Last week, the company bought back 3 million of its own shares, spending about $50 million to $58 million. Since July, it has repurchased a total of 19.1 million shares.
In addition to its Ethereum holdings, Bitmine currently holds 209 BTC, $104 million in cash and marketable securities, and equity stakes in Beast Industries and Eightco Holdings.
In U.S. premarket trading, Bitmine shares were steady, moving in a narrow range near $18.80.
Lee comments on the CLARITY Act and the macro backdrop
The company’s update came as U.S. crypto regulation hit another setback. The Digital Asset Market Clarity Act, or CLARITY Act, which is tied to the industry’s compliance framework, failed to reach a Senate vote before Congress began its August recess.
Lee struck a relatively calm tone. 「It is disappointing that the CLARITY Act could not be voted on before the August recess, but financial markets are clearly paying closer attention right now to slowing inflation and employment data,」 he said.
Lee added that market expectations for a Federal Reserve rate hike in September had fallen to 40% from 75% two weeks earlier. 「We expect increasingly easier financial conditions to become a strong tailwind for the next leg higher in the crypto market,」 he said.
The article was first published by Blockcast.