BitMine to end Ethereum buying spree at 5% supply threshold
BitMine plans to stop purchasing Ethereum once its holdings reach 5% of the total supply, according to Tom Lee. The company already owns 6,041,481 ETH, about 4.9% of the 122.1 million ETH reference supply, leaving roughly 63,500 ETH before the cap. Staking is becoming a central part of its crypto strategy.
BitMine started the program on June 30, 2025. It held 5.93 million ETH in early September and 6,041,481 by October 18. Its latest disclosed week added 12,535 ETH, and it says it has purchased every week since launch. At a $2,365 reference price, the ETH was worth about $14.3 billion; total crypto, cash and stakes were near $15.1 billion.
Tom Lee called the 5% level a firm ceiling at TOKEN2049 and said Vitalik Buterin advised against exceeding it. On the 122.1 million ETH reference, 5% is about 6.105 million ETH. BitMine has staked 5,067,309 ETH, roughly 84% of reserves, and estimates annualized staking revenue near $309 million.
BitMine’s shift from steady ETH purchases to staking may alter market expectations for a large corporate buyer. Investors and traders could face different liquidity and volatility conditions, while staking partners and infrastructure providers may see more demand. Retail holders may be indirectly affected through ETH price and yield trends. Because other buyers can absorb supply, the broader social impact may be limited and gradual.