Bitmine, which started accumulating Ethereum during the last bull run, is nearing its target and may stop buying ETH.
Accordingly, Bitmine, the world’s largest holder of Ethereum, plans to halt ETH purchases once it reaches its target of 5% of the supply.
Speaking at the Token2049 event in Singapore, BitMine Chairman Tom Lee made an important announcement that closely concerns the Ethereum (ETH) market. Lee stated that the company will cease new ETH purchases once it reaches 5% of the total Ethereum supply.
Therefore, the 5% target that the company has long pursued will also become an upper limit.
BitMine Has Over 6 Million ETH in its Vault!
With BitMine’s latest purchase, the company’s Ethereum holdings have reached 6,016,414 ETH. This amount represents 4.9% of the total supply of approximately 122.1 million ETH. Lee stated that approximately 100,000 more ETH would need to be purchased to reach the 5% level.
Lee stated that BitMine has been purchasing ETH weekly since launching its ETH treasury strategy in June 2025, consistently providing demand to the market.
Lee said the following regarding the halt in ETH purchases: “We made all these purchases during a bear market. By buying, we protected ourselves against ETH’s downward movement. But now, with a 25x move ahead, we’ve stopped stockpiling.”
Tom Lee also stated that if the current pace of purchases is maintained, the company could reach its 5% target in approximately six weeks. Lee added that the majority of purchases were made during a period of weakness in the crypto market, and the company reached its target much faster than expected.
Tom Lee stated that BitMine’s strategy is not limited to simply accumulating ETH, and that once the 5% target level is reached, the company will place more emphasis on generating income by staking Ethereum assets and on share buybacks. Lee added that reaching 5% would eliminate the need for continuous capital increases to acquire new ETH, which would provide a significant advantage for the company.
Lee’s remarks have attracted attention in the market, with analysts noting that ETH may lose a stable buyer.
*This is not investment advice.
