Ethereum News: Tom Lee Says Bitmine to Soon Stop Buying ETH
Tom Lee said the firm will halt weekly purchases after reaching 5% of circulating supply, removing a steady source of ether demand.
- On Wednesday at TOKEN2049 in Singapore, Bitmine chairman Tom Lee announced the firm will stop accumulating Ether once its holdings reach 5% of the token's circulating supply.
- Bitmine has purchased Ether every week since June 2025, though much was acquired during last year's bull market at higher prices, leaving the firm with $4.5 billion in unrealized losses.
- Holding 6,016,414 Ether, Bitmine requires another 100,000 tokens to reach its 5% target. Lee said the purchase pace would take "six to seven more weeks" at current rates.
- Ether dropped nearly 4% to about $2,590 on Wednesday amid broader market weakness, as Bitmine's looming halt removes a major source of steady demand for the token.
- Bitcoin fell 2.4% to about $83,600 on Wednesday as $550 million in leveraged crypto bets were wiped out over 24 hours, reflecting cooled risk appetite across wider markets.
20 Articles
20 Articles
Bitmine Falls 7% as Tom Lee Says the Ethereum Buying Spree Is About to End; Sharplink and Strategy Drop 5%
Tom Lee just signaled a major shift in how Bitmine handles its Ethereum treasury, and crypto stocks across the board are taking the hit as investors reconsider what a buying halt means for a company built on relentless accumulation.
Key points of the news: BitMine set a ceiling of 5% of Ethereum’s supply. Tom Lee confirmed that the company will not accumulate beyond that limit. The company accumulated about 6 million ETH, equivalent to 4.9% of the supply, and needs approximately 100,000 more ETH to reach the target. Read more
BitMine to Stop Buying ETH at 5% Cap as Ethereum Tests $2,500 Altcoin News ETHNews
BitMine will stop accumulating ETH once it holds 5% of the supply. The company needs fewer than 90,000 more ETH to get there. Staking already generates almost all of BitMine’s revenue. ETH is testing its most important support zone since the August breakout. BitMine Immersion Technologies will end its Ethereum purchases once its holdings reach […]
Bitmine Immersion Technologies (BMNR) now owns 6.02 million ethers, or 4.9% of the total supply. Thomas "Tom" Lee's company is less than 90,000 ETH of its symbolic 5% target. And once this target is reached, this large and regular buyer of ethers will cease its acquisitions. What will be the impact for the ETH price? L'article Ethereum: Bitmine will stop its purchases from 5% of the supply reached, a risk for the price of the ETH ? appeared firs…
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