BitMine to End ETH Accumulation Once Its Holdings Reach 5% of Supply

BitMine held 6,016,414 ETH as of October 4, equivalent to approximately 4.9% of Ethereum’s total supply. Chairman Tom Lee said the company will end its buying program after reaching its self-imposed limit of 5% of the supply.

In the latest Ethereum news, BitMine Immersion Technologies disclosed that its ETH holdings had climbed to approximately 6.02 million tokens. Lee confirmed that the company intends to stop accumulating Ethereum once it reaches the 5% threshold, estimating that around 100,000 ETH remain before the target is achieved.

BitMine’s weekly ETH purchases have been a key component of its corporate treasury strategy. The company stated that it has bought Ethereum every week since launching the initiative on June 30, 2025. Its decision to establish a 5% ceiling introduces a clear endpoint for the accumulation streak, although the company has not provided a specific date for reaching the target.

These recurring purchases have helped expand BitMine’s Ethereum reserves while contributing to ongoing demand for the cryptocurrency. As its holdings approach the announced limit, the company’s remaining purchasing capacity has become an important consideration for investors tracking institutional ETH demand.

BitMine’s October 4 disclosure placed Ethereum’s relevant supply at approximately 122.1 million tokens. Against that figure, its 6,016,414 ETH position represents roughly 4.9% of the supply, leaving the company close to its stated ownership cap.

Lee’s estimate of approximately 100,000 ETH remaining should be treated as a rounded projection. Based on a supply of 122.1 million ETH, a 5% ownership target would equal 6.105 million tokens. Subtracting BitMine’s reported holdings leaves a gap of approximately 88,586 ETH. The difference may stem from rounding or the assumptions underlying the company’s estimate.

BitMine’s stock valuation has also attracted attention. BMNR closed at $24.19 on October 8, down 5.9% for the day. Its estimated net asset value was $26.51 per share, placing the stock at an 8.8% discount to that figure and giving it a market net asset value ratio (mNAV) of 0.91x.

Meanwhile, ETH traded near $2,539, declining 1.5% over 24 hours and remaining below the approximately $2,700 level recorded in early October.

The company also reported purchasing 15,112 ETH over the preceding week. With its treasury nearing the 5% threshold, the pace of future acquisitions is becoming increasingly relevant to investors assessing BitMine’s influence on Ethereum demand.

Ethereum News: BitMine’s Staking Operations May Take Center Stage

BitMine’s strategy extends beyond purchasing additional ETH. According to its October 4 disclosure, the company had staked 5,067,309 ETH, representing approximately 84% of its total holdings of around 6.02 million tokens.

The company forecast annualized staking revenue of $363 million and estimated that annualized rewards could reach approximately $431 million at scale. These figures are projections rather than realized earnings or guaranteed returns, but they illustrate the potential importance of staking income to BitMine’s treasury operations.

Lee reiterated that BitMine purchased 15,112 ETH during the previous week and has maintained weekly acquisitions since launching its Ethereum Treasury Strategy on June 30, 2025. He also described the company’s consistent buying record as unmatched among publicly traded firms.

As BitMine approaches its 5% ownership ceiling, investor attention may increasingly turn toward how the company manages its existing ETH reserves. Staking performance, capital allocation and treasury efficiency could become more prominent priorities once accumulation ends.

However, BitMine has not yet revealed a detailed strategy for the period following its expected arrival at the 5% supply cap.