Bitmine added just 7,430 ETH, worth about $14 million, last week, marking one of its smallest weekly Ethereum purchases since June 2025.
The company currently holds approximately 5.78 million ETH, representing nearly 4.8% of Ethereum's circulating supply and approaching its 5% target.
Chairman Thomas Lee stated the slowdown is due to capital being redirected toward a $4 billion share buyback program, under which Bitmine repurchased 5.5 million common shares at an average price of $15.62 each.
Bitmine's total asset value stands at $11.5 billion across Ethereum, Bitcoin, cash, and stakes in Beast Industries and Eightco Holdings.
Of its Ethereum holdings, 4.92 million ETH or 85% are staked through MAVAN, generating projected annualized staking revenue of about $247 million.
Despite reduced purchases, Bitmine has maintained weekly Ethereum acquisitions continuously since initiating its treasury strategy over a year ago.
The buyback strategy signals Bitmine's leadership views its equity as undervalued compared to additional Ethereum accumulation at current price levels, appealing to traditional investors more familiar with buyback programs.
