Bitmine has announced a slowdown in its Ethereum accumulation after amassing approximately 5.1 million to 5.18 million ETH, equating to 4.29% to 5% of Ethereum's total supply, in under a year. This rapid acquisition, initially planned over five years, has led the firm to adjust its strategy. At Consensus 2026, Bitmine chairman Tom Lee revealed the company will reduce its weekly Ethereum purchases, having reached its target far ahead of schedule. With the accumulation phase nearing completion, Bitmine plans to stake about 85% of its holdings, translating to roughly 4.3 million to 4.4 million ETH, to earn yield on the Ethereum network. Additionally, the firm is considering up to $4 billion in stock buybacks via its MAVAN platform. Lee also expressed optimism for Ethereum's future, predicting a "crypto spring" with ETH prices potentially exceeding $2,100, driven by advancements in tokenization and AI integration. However, concerns about concentration risk have emerged, as Bitmine's control of a significant portion of Ethereum's supply could impact market dynamics. The firm's staking strategy mitigates immediate sell-off risks, but its substantial validator influence raises questions about network centralization.