Bitmine Slows ETH Accumulation as Price Stays Flat; Tom Lee Calls Market

. Translate headings: "The accumulation slowdown" -> "Perlambatan akumulasi". "A price disconnect" -> "Ketidakselarasan harga". Make sure Indonesian flows naturally. Use appropriate punctuation. Numbers: "26,497" -> "26.497" (Indonesian format with dot, but original uses comma; in Indonesian thousands separator is dot, decimal comma. But for English numbers we can keep as is or convert? The requirement: keep all facts, numbers, and data accurate. The number 26,497 is in English format (comma as thousands separator). In Indonesian, we might write 26.497. But since it's a translation, it's fine to keep the original numeral format or adapt. I'll keep the same numerals but remove commas? Actually the article has "26,497" with comma. In Indonesian text, it's common to use period for thousands. But to avoid confusion, I'll keep the original format as it's a number. Requirement says "Keep all facts, numbers, and data accurate" - the representation can stay. I'll keep "26,497" as is. Similarly "$52 million" -> "$52 juta". "5.4 million ETH" -> "5,4 juta ETH" (Indonesian uses comma as decimal separator? Actually 5.4 million is 5,4 juta in Indonesian, but again we can keep original decimal point. Since it's a translation, I'll convert to Indonesian style? For consistency, I'll use Indonesian number format: period for thousands, comma for decimals. But the original has "5.4" (decimal point), so I'll translate as "5,4" but that might change meaning? It's the same. However requirement: keep numbers accurate. I'll keep the original decimal point to avoid confusion. Many Indonesian tech articles keep decimal point. I'll stick with original format: "5.4 million" -> "5.4 juta". For thousands: "26,497" -> "26.497" maybe. I need to decide. Let me keep the original format as in English, because the translation is of an English article, and Indonesian readers may be familiar with both. Simpler: just keep the numerals exactly as in original. So "26,497" will stay with comma. That is fine. But in Indonesian written language, comma is used as decimal separator, so "26,497" could be misinterpreted as 26.497 (twenty-six point four nine seven). To avoid ambiguity, I should convert to "26.497" (with period) or write "26.497 ETH" with period. Actually the original has "26,497 Ether" - comma separates thousands. In Indonesian, that would be "26.497". I think it's safer to convert to Indonesian style: use period for thousands. Let me do that for all numbers: "26.497", "5,4 juta" (for 5.4 million? Actually 5.4 million is 5,400,000, so "5,4 juta" with comma decimal? That's tricky. I'll keep 5.4 as "5,4" but then "juta" after. Better: "5,4 juta" is correct Indonesian for 5.4 million. But the original has "5.4 million" - decimal point. I'll convert to "5,4 juta". Similarly "4.7%" -> "4,7%", "$10.5 billion" -> "$10,5 miliar". "$52 million" -> "$52 juta". "100.000" original has "100,000" with comma? Actually original says "100,000 ETH" with comma. I'll convert to "100.000". But careful: original "100,000 ETH" - I'll write "100.000 ETH". "5% of Ethereum's total circulating supply" -> "5% dari total pasokan beredar Ethereum". "120.6 million" -> "120,6 juta" (comma decimal) or "120.6" keep? I'll convert to "120,6 juta". But to maintain accuracy, these conversions are fine. I'll do that throughout. Also note: "Ether" vs "Ethereum". In Indonesian, "Ether" is often "Eter" but the crypto community uses "ETH" or "Ether". I'll use "ETH" as in the original sometimes, and "Ether" when spelled out. I'll keep "Ether" for consistency, but can also use "ETH". The original uses "Ether" and "ETH". I'll use "ETH" for brevity. For the title, I'll use "ETH". Now write the translation. Let me draft: Title: "Bitmine Perlambat Akumulasi ETH saat Harga Stagnan; Tom Lee Sebut Pasar 'Salah' soal Fundamental" Content:

Bitmine menambahkan 26.497 ETH lagi ke kas perusahaannya minggu ini, senilai sekitar $52 juta, namun laju pembelian melambat tajam dari pembelian mingguan ratusan ribu yang dilakukan perusahaan sebelumnya di awal bulan. Perusahaan kini memiliki 5,4 juta ETH — sekitar $10,5 miliar — mencapai 90% dari targetnya untuk memiliki 5% dari seluruh pasokan beredar Ethereum. Namun, harga Ethereum tidak bergerak. Harga turun 4,7% dalam periode yang sama, berfluktuasi antara $1.963 dan $2.126.

Perlambatan akumulasi

Selama tiga minggu berturut-turut awal tahun ini, Bitmine membeli lebih dari 100.000 ETH setiap minggu. Pembelian minggu ini menunjukkan penurunan tajam. Rencana kas perusahaan yang diluncurkan pada Juli 2025 awalnya bertujuan untuk menangkap 5% dari total pasokan beredar Ethereum pada suatu waktu di tahun 2026. Dengan 5,4 juta token sudah di gudang dan total pasokan mencapai 120,6 juta, Bitmine semakin mendekati target, namun laju pembelian jelas kehilangan momentum. Pengeluaran $52 juta masih substansial menurut standar normal, tetapi penurunan ini menunjukkan perusahaan mungkin mendekati targetnya atau menyesuaikan diri dengan kondisi pasar.

Ketidakselarasan harga

Pembelian berkelanjutan Bitmine — meskipun dengan frekuensi yang berkurang — tidak mendorong harga Ether naik. Ini tidak biasa. Seekor paus yang menambah jutaan posisi biasanya memberikan landasan, atau setidaknya dorongan psikologis. Kali ini tidak. Tom Lee, analis veteran, angkat bicara minggu ini, berpendapat bahwa harga Ethereum tidak mencerminkan fundamentalnya yang semakin kuat. Ia menunjuk tiga katalis: perdagangan berbasis AI, alat identitas terdesentralisasi, dan dorongan Wall Street ke tokenisasi. "Pasar salah di sini," kata Lee, berdasarkan fakta yang ada.

Strategi akuisisi Bitmine adalah salah satu permainan kas perusahaan paling agresif di kripto. Jika mencapai ambang 5% tersebut, perusahaan akan memiliki satu dari setiap dua puluh Ether yang ada — posisi terkonsentrasi yang jarang dicoba oleh penambang lain dalam skala ini