Bitmine (BMNR), the largest Ethereum treasury firm, bought Just 7,430 Ether (ETH) last week, dialing back his buying spree as he redirected capital into stock buybacks.

The latest purchase of about $14 million at Ether’s current price of $1,879 brought BitMine’s holdings to 5,78 million ETH, or about 4.8 percent of Ethereum’s circulating supply, according to Monday’s company update.

BMNR was 2.4% higher in premarket trading.

The purchase is one of the firm’s smallest weekly increases since the launch of its Ethereum Treasury strategy in June 2025. In comparison, the firm bought more than 111,000 ETH in one week in May and regularly acquired tens of thousands of tokens in the first half of the year. The firm is close to its goal of depleting 5% of the ETH supply.

Chairman Thomas “Tom” Lee attributed the slowdown to the company’s decision to repurchase about 5.5 million shares at an average price of $15.62 under the company’s $4 billion buyback program.

“The lower pace of purchases reflects that Bitmine repurchased 5.5 million common shares,” Lee said. He added that the company has bought ETH every week since adopting its treasury strategy just over a year ago.