Bitmine to Halt Ethereum Purchases at 5% Supply Cap

Bitmine Immersion Technologies will stop buying Ethereum once its holdings reach 5% of the token's circulating supply, according to Chairman Tom Lee. The company is approximately 100,000 ETH away from this threshold, which it refers to as the 'Alchemy of 5%.' At the current pace, Bitmine is expected to reach this limit in six to seven weeks. As of the latest disclosure, Bitmine holds 6,016,414 ETH, or about 4.9% of the total supply. The firm has been purchasing Ethereum weekly since launching its treasury strategy in June 2025, providing consistent demand in the market. Lee indicated that the company might even sell Ethereum earned through staking to maintain its supply share below the 5% cap. Despite holding significant unrealized losses of around 4.5 billion dollars due to previous acquisitions at higher prices, Lee expressed pride in achieving this milestone in just over a year, compressing a five-year plan into a shorter timeframe. The end of Bitmine's buying spree will remove a key source of demand from the market.

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