Tom Lee: BitMine is evaluating slowing down its Ethereum purchases and shifting towards stock buybacks.

CoinFeed reported on May 8th that BitMine Chairman Tom Lee stated at Consensus 2026 that the company is currently buying approximately 100,000 ETH per week. At this rate, it will reach its 5% Ethereum holding target within about six weeks. However, the company is evaluating whether to slow down the buying pace and instead allocate capital to its $4 billion stock buyback program. BitMine's annualized Ethereum staking income exceeds $300 million, the company's overall daily cash flow exceeds $1.2 million, and it holds approximately $700 million in cash reserves. Tom Lee predicts that if Bitcoin's closing price is above $76,000 at the end of May, it will set a record for three consecutive months of gains, marking the end of the bear market, as Bitcoin has never historically remained in a bear market after three consecutive months of gains.