Bitmine Immersion Technologies intends to cease its Ethereum purchasing program once its holdings reach 5% of the total circulating supply. Chairman Tom Lee announced this decision at the Token2049 conference in Singapore, noting that the company is approximately 100 000 ETH away from this target.
The company currently holds 6 016 414 ETH, which represents about 4.9% of the supply. Based on recent accumulation rates, Bitmine expects to reach its 5% threshold within the next six to seven weeks. The firm has been purchasing Ethereum weekly since June 2025 to build its treasury.
Lee described the 5% limit as a hard cap designed to optimize shareholder value. He stated that the company may sell Ethereum earned through staking to prevent its holdings from exceeding this ceiling. The firm previously aimed to reach this goal over five years but completed the process in just over a year.
Despite the strategic milestone, the company faces approximately $4.5 billion in unrealized losses on its holdings due to market price fluctuations. Following the announcement, Ethereum experienced a 5.5% decline in value during Asian trading hours.
