Bitmine’s ETH buying slows as Tom Lee's firm shifts capital to share buybacks

Bitmine has acquired $14M in Ethereum, reducing its cash reserves to $104M. For five consecutive weeks, the firm has held 4.8% of the supply, leaving it roughly 230,000 tokens away from its Alchemy of 5% target. Despite these acquisitions, ETH buying has slowed as Tom Lee's firm shifts its capital allocation toward share buybacks. The company continues to manage its portfolio while balancing cryptocurrency accumulation with corporate equity investments.