# BitMine Sets 5% Ether Supply Cap as Holdings Near Target By John Kim Canonical URL: https://www.tokenpost.com/news/business/27316 Published: 2026-10-07T09:02:26.000Z Updated: 2026-10-07T09:02:26.000Z Section: Business > BitMine held 6,001,302 ETH, or about 4.9% of Ethereum’s total Ether supply, as of Sept. 27 and needs about 100,000 ETH more to reach the target. BitMine Immersion Technologies will limit its Ether (ETH) holdings to 5% of Ethereum’s total Ether supply, turning its long-standing accumulation target into a ceiling as the company approaches the threshold. Chairman Tom Lee announced the cap during a keynote at Token2049 in Singapore on Oct. 7. BitMine held 6,001,302 ETH as of Sept. 27, equal to about 4.9% of Ethereum’s total supply, after adding 17,362 ETH during the preceding week. The company needs about 100,000 ETH more to reach the target. Its strategy, known as the “Alchemy of 5%,” has driven weekly Ether purchases since BitMine launched its digital asset treasury strategy in June 2025. [BitMine’s holdings surpassed 6 million ETH]() after the Sept. 27 purchase. The company’s position represented about 98% of its 5% supply target based on the holdings and supply figures available at the time. Lee said the ceiling would remove the need to raise additional capital to continue buying Ether. BitMine has used capital markets to expand its treasury, including a $300 million perpetual preferred stock offering launched in June. The company may still increase its holdings through staking rewards, which are earned by helping support the Ethereum network. Lee has previously said BitMine could sell staking-generated ETH when necessary to keep its ownership share below 5%. Lee also left open the possibility of accumulating more than 5% in the future, depending on Ethereum adoption, and could revisit that possibility in 2027. ## Links in this article - [BitMine’s holdings surpassed 6 million ETH](https://www.tokenpost.com/news/business/25007)