Tom Lee Says BMNR May Pull Back On Ethereum Buys – ‘There’s Other Things To Be Doing In Crypto Right Now’

• Bitmine Immersion Technologies executive chairman Tom Lee said on Thursday that the company may cut back on its pace of buying Ethereum. 
• At Consensus Miami 2026, he forecast that if Bitmine continued its current pace of ETH purchases, it would reach its goal of accumulating 5% of Ethereum’s supply in six weeks.
• He said that there were “other things” to be doing in the cryptocurrency industry right now.

Bitmine Immersion Technologies (BMNR) chairman Tom Lee said on Thursday that the company may slow down the pace of its Ethereum (ETH) purchases moving foward as “crypto spring” kicks in. 

“I do think we’re going to slow down our pace of buying,” Lee said on stage at Consensus Miami 2026. “I’m not sure we want to get to 5% to quickly.” He estimated that if the company continued to accumulate Ethereum at its current pace, it may meet its “alchemy of 5%” goal within six weeks. 

“I think we’re deciding perhaps we want to accumulate at a somewhat slower pace, because there’s other things to be doing in crypto right now.” – Tom Lee, Chairman, Bitmine Immersion Technologies

BMNR’s stock fell over 4% in midday trade on Thursday. Retail sentiment around the largest corporate holder of Ethereum on Stocktwits trended in ‘bearish’ territory over the past day, accompanied by chatter at ‘low’ levels. 

Meanwhile, Ethereum’s price dropped 2.66% in the last 24 hours, falling below the key support level of $2,300. Retail sentiment around the leading altcoin trended in ‘neutral’ territory over the past day, with chatter at ‘normal’ levels. 

Get updates to this developing story directly on Stocktwits.

Read also: Bitcoin Rally Stalls Ahead Of Jobless Claims As Crude Oil Extends Decline: Crypto Market Sees $420M In Liquidations

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