Tom Lee Says BitMine Will Halt Ether Buying at 5% Ownership
BitMine held 6,016,414 ETH, or 4.9% of Ethereum’s stated supply, as of Oct. 4 and needs about 89,000 more tokens to reach its target.
BitMine Immersion Technologies plans to stop buying Ether (ETH) once its holdings reach 5% of Ethereum’s supply, Chairman Tom Lee said Oct. 7, putting a target on the company’s weekly accumulation program.
BitMine held 6,016,414 ETH as of Oct. 4 at 6:30 p.m. ET (22:30 UTC), representing 4.9% of Ethereum’s stated 122.1 million-token supply. The holdings were valued at about $16.4 billion using the company’s stated price of $2,726 per token, leaving roughly 89,000 ETH to reach 5%.
The company acquired 15,112 ETH during the week ending Oct. 4 and has reported purchases every week since launching its ETH Treasury Strategy on June 30, 2025. Reaching the threshold would end new purchases under the policy Lee described, although no plan to sell ETH was disclosed.
BitMine also reported that 5,067,309 ETH was staked as of Oct. 4, equal to 84% of its holdings.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.