BitMine to Halt ETH Buying Upon Reaching 5% of Circulating Supply

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BitMine signaled it will stop accumulating ETH once its holdings reach a hard cap of 5% of circulating supply, with only ~90k–100k ETH remaining to buy. This clarifies a near-term ceiling on a large, price-insensitive buyer's incremental demand, potentially reducing a persistent bid as the cap is approached. It also lowers future funding needs tied to ETH purchases, shifting the narrative toward balance-sheet management rather than ongoing accumulation.

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BitMine will stop purchasing ether once its holdings reach 5% of ETH's circulating supply, according to comments from Tom Lee at the Token2049 conference in Singapore on Oct. 8, as reported by Hu 火星 Finance. Lee said the cap is firm: BitMine will not accumulate beyond 5% and does not intend to own more than 5% of Ethereum. He added the company needs to buy roughly another 100,000 ETH to reach that limit. Based on BitMine's latest disclosure tied to its most recent purchase on Monday, Oct. 4, the company holds about 6,016,414 ETH. That equates to roughly 4.9% of the circulating supply, estimated at about 122.1 million ETH, implying a remaining gap of around 90,000 to 100,000 ETH to hit the 5% threshold. At last week's buying pace, Lee said reaching the cap would take about another six to seven weeks. Lee also said that once purchases end, BitMine would no longer need to raise capital to acquire ETH, which could leave shareholders better positioned if ETH prices continue to climb.