BITMINE CUTS ETH PURCHASE PACE BY 78% TO $53 MILLION LAST WEEK AFTER RECORD $237 MILLION BUYING SPREE Bitmine Immersion Technologies purchased approximately $53 million worth of ether in the week ending May 30, cutting its weekly acquisition pace by approximately 78% from the record $237 million it deployed in the week ending May 25. The slowdown follows a pattern of sharp acceleration then deceleration in Bitmine’s ETH buying: the company had also slowed to 26,659 ETH per week before buying 71,672 ETH, then accelerating to 111,942 ETH in the week ending May 25. Bitmine now holds approximately 5.42 million ETH, representing roughly 4.5% of Ethereum’s circulating supply. The company has staked approximately 4.7 million ETH, generating an annualized staking yield of approximately $276 million. The deceleration came as Ethereum fell further below $2,000 and then rebounded slightly, trading near $2,050 as of Monday. Chairman Tom Lee, who oversees Bitmine’s ETH accumulation strategy, has described sub-$2,200 levels as an attractive buying window, and the reduced weekly spending may reflect either liquidity management, price-level recalibration, or capital allocation decisions within Bitmine’s treasury framework. Bitmine’s stated long-term target is to hold 5% of Ethereum’s circulating supply, a threshold roughly 605,000 ETH above its current position. At the $53 million weekly pace, reaching 5% from 4.5% would take substantially longer than the accelerated pace of recent weeks implied. Bitmine holds 203 Bitcoin and approximately $444 million in equity stakes in addition to its ETH position. In May 2026 Bitmine bought approximately 276,000 ETH in total across three weeks, 26,659, 71,672, and 111,942, before pulling back to the $53 million figure. The Ethereum Foundation separately sold 10,000 ETH directly to Bitmine in an OTC transaction at $2,292 per token on May 1.