# Bitmine Immersion Technologies Holds 6.04 Million ETH Near 5% Cap By John Kim Canonical URL: https://www.tokenpost.com/news/business/38512 Published: 2026-10-23T00:27:10.000Z Updated: 2026-10-23T00:27:10.000Z Section: Business > Its Oct. 18 balance was about 63,519 ETH below the level Chairman Tom Lee said would end Bitmine’s purchases. Bitmine Immersion Technologies held 6,041,481 Ether (ETH) at 3 p.m. ET (19:00 UTC) on Oct. 18, leaving about 63,519 ETH before the 5% supply level Chairman Tom Lee said would end the company’s purchases. The balance represented 4.9% of the 122.1 million ETH supply figure Bitmine used. Five percent of that total is about 6.105 million ETH; subtracting the Oct. 18 holdings leaves 63,519 ETH. The gap is an estimate because the supply figure is rounded. At TOKEN2049 in Singapore on Oct. 7, Lee described the [5% cap on purchases]() as a hard limit: “That’s a hard cap. We’re not gonna be accumulating past 5%.” He had estimated at the time that Bitmine needed about 100,000 more ETH, a larger gap than the latest holdings calculation shows. Bitmine acquired 12,535 ETH during the week before Oct. 18. Bitmine has bought ETH every week since beginning its treasury strategy on June 30, 2025. It also had 5,067,309 ETH staked, or about 84% of its holdings, as of Oct. 18. Lee’s statement addressed further accumulation and did not set a sale target for Bitmine’s existing Ether. ## Links in this article - [5% cap on purchases](https://www.tokenpost.com/news/business/27418)