Bitmine Nears Ethereum Buying Cap, Plans to Halt Purchases
- Bitmine currently holds approximately 6,016,414 ETH, equating to about 4.9% of the circulating supply.
- The company has been purchasing Ethereum weekly since June 2025 and plans to stop once it reaches a hard cap of 5% of the total supply.
- Bitmine’s Ethereum holdings are currently at an unrealized loss of roughly $4.5 billion due to higher purchase prices during a previous bull market.
- Chairman Tom Lee announced that the company is about six to seven weeks away from reaching its target, needing an additional ~100,000 ETH.
Bitmine Immersion Technologies plans to halt its consistent Ethereum purchases as it nears its self-imposed limit of holding 5% of the token’s circulating supply. This decision marks the end of a significant source of demand in the market.
Despite facing substantial unrealized losses, Bitmine views reaching this milestone as a strategic achievement in optimizing shareholder value and stabilizing their portfolio amidst market fluctuations. (Source)
