Ethereum’s BitMine Shocker: Halting Buys at 5% Supply—What’s Next for the Crypto Giant?
Ever wondered what it takes to quietly gobble up nearly 5% of Ethereum’s entire supply without causing a frenzy? Well, BitMine Immersion Technologies is showing us just that kind of crypto appetite. As of October 4, they’ve stacked an impressive 6,016,414 ETH, inching ever closer to their self-imposed boundary at 5%. Chairman Tom Lee’s pledge to cease buying at that golden threshold adds a suspenseful twist — how fast will those final 100,000 ETH disappear, and what happens when this weekly buying marathon finally concludes? BitMine’s relentless weekly ETH accumulation, ticking like a crypto metronome since June 2025, has morphed from a simple treasury boost into a persistent demand engine in the Ethereum ecosystem. But here’s the burning question — once the buying stops, how will BitMine orchestrate its vast digital empire? Staking? Strategic moves? The next chapter of their treasury saga is ripe for watchers and enthusiasts alike. Dive deeper and catch the full story here: LEARN MORE.
In Ethereum news this week, BitMine Immersion Technologies reported holding 6,016,414 ETH as of October 4, about 4.9% of Ethereum’s supply. Chairman Tom Lee said the company will stop buying once it reaches its self-imposed 5% ceiling, and estimated that roughly 100,000 ETH remain to get there.
BitMine’s weekly purchasing cadence has been a defining feature of its Ethereum treasury strategy. The company says it has bought ETH every week since the strategy began on June 30, 2025; its stated stopping point makes that pattern finite, although the company has not announced a date for reaching the ceiling.
Its weekly ETH accumulation has therefore become relevant not just as a measure of treasury growth, but as a source of recurring demand.
This rounds up… to x% https://t.co/UCdtpn1qL4
— Bitmine (NYSE-BMNR) $ETH $BMNP (@BitMNR) October 5, 2026
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BitMine’s ETH Supply Target: Holdings and Remaining Gap
Bitmine BMNR
The October 4 holdings figure comes from BitMine’s company disclosure, which puts the relevant ETH supply at approximately 122.1 million. Against that denominator, its 6,016,414 ETH position represents about 4.9%, leaving the company close to its stated threshold.
Lee’s estimate of roughly 100,000 ETH remaining should not be read as an exact calculation. Using 5% of the disclosed 122.1 million supply and subtracting the reported holdings gives an approximate gap of 88,586 ETH; that calculation depends on the stated supply figure and may differ from the rounded estimate.
The latest Ethereum news comes as BitMine’s shares trade below the value of its ETH. BMNR closed at $24.19 on October 8, down 5.9% on the day, against an estimated net asset value of $26.51 per share. That is an 8.8% discount, or an mNAV of 0.91x. ETH traded near $2,539, down 1.5% over 24 hours and below the $2,700 range it held in early October.
BitMine reported acquiring 15,112 ETH over the preceding week. The scale of BitMine’s ETH treasury makes the distinction between its present balance and its remaining accumulation target material.
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Ethereum News: Staking and Capital Allocation After the Cap
Accumulation is only one part of BitMine’s reported strategy. As of October 4, the company said it had staked 5,067,309 ETH, equivalent to 84% of its approximately 6.02 million ETH holdings.
BitMine projected annualized staking revenues of $363 million and estimated annualized rewards of approximately $431 million at scale. Both are company projections, not realized revenue or guaranteed returns. They indicate why staking and treasury management will remain relevant to the Ethereum treasury even if spot accumulation eventually stops.
In its disclosure, Lee said BitMine acquired 15,112 ETH over the past week and has bought ETH every week since the ETH Treasury Strategy began on June 30, 2025. He described the company’s record of consistent crypto buying as unmatched among public companies.
The analytical question is no longer only how quickly BitMine can approach 5% of the ETH supply; it is how the company manages a treasury once accumulation reaches its stated limit. Its stakeholder operation and capital allocation are logical areas to monitor, but the company has not disclosed a post-ceiling plan.
The relationship between BitMine’s ETH accumulation and treasury strategy will remain important as that transition comes into view.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. A crypto native since 2017, Daniel leverages his background in on-chain analytics to author evidence-based reports and deep-dive guides. He holds certifications from The Blockchain Council, and is dedicated to providing “information gain” that cuts through market hype to find real-world blockchain utility.
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