BitMine Immersion Technologies, currently the largest corporate holder of Ethereum, plans to cease its accumulation strategy once its holdings reach 5% of the total supply. Chairman Tom Lee announced this decision at the Token2049 conference in Singapore, noting that the firm is approximately 100,000 ETH away from this threshold.
The company began its acquisition program on June 30, 2025, when the price of Ethereum was near $2,500. Over the following 15 months, BitMine purchased 6 million tokens. As of October 4, 2026, the company reported holding 6,016,414 ETH, which accounts for roughly 4.9% of the total supply.
To reach the 5% target, the firm needs to acquire an additional 89,000 ETH, which would cost approximately $230 million at current market prices. Tom Lee stated that ending these purchases will eliminate the need for the company to raise further capital to fund the acquisitions.
BitMine’s aggressive buying strategy previously influenced market activity, notably in August 2025, when the company added 1.1 million ETH. During that period, Ethereum saw a 15.8% price increase, peaking near $4,953. In 2026, the company maintained a weekly purchasing schedule despite price volatility.
Currently, BitMine holds 5.07 million staked ETH, which generates an estimated $363 million in annual earnings. Meanwhile, broader market data from SoSoValue indicates that US spot Ethereum ETFs recently experienced outflows of approximately $408 million over a six-day period.
