CoinDesk analyst Krisztian Sandor wrote that BitMine chairman Tom Lee said at TOKEN2049 in Singapore that the company plans to stop buying Ether once its holdings reach 5% of circulating supply. BitMine has disclosed holdings of 6,016,414 ETH, equal to about 4.9% of circulating supply, leaving roughly 100,000 ETH still to buy. At Wednesday prices, those holdings were worth about $15.5 billion. The company added roughly $41 million in ETH last week, and at that pace, the 5% target could be reached in six to seven weeks. BitMine also holds $643 million in cash and marketable securities, more than double the amount needed to complete the remaining purchases at current prices. Lee said a goal that had originally been expected to take five years is now close to completion in just over one year. Since launching its ETH treasury strategy in June 2025, BitMine has bought every week, according to the company. DropsTab data shows the firm is currently sitting on an unrealized loss of about $4.5 billion on its ETH position, while ETH fell about 5% over the past 24 hours on Wednesday to its lowest level since Sept. 20.
CoinDesk analyst Krisztian Sandor said BitMine chairman Tom Lee told attendees at TOKEN2049 in Singapore that the Ethereum treasury company will stop buying ETH once its holdings reach 5% of the asset’s circulating supply. The company is now about 100,000 ETH short of that target.
BitMine’s latest disclosure shows holdings of 6,016,414 ETH, or about 4.9% of circulating supply. At Wednesday prices, that stake was worth about $15.5 billion. The company bought roughly $41 million worth of ETH last week. If it keeps buying at the same pace, it would need another six to seven weeks to reach the 5% threshold.
BitMine also holds $643 million in cash and marketable securities. At current prices, that is more than twice the amount needed to complete the remaining purchases. Lee said the accumulation target had originally been expected to take five years, but is now close to being achieved in a little over one year.
According to BitMine, the company has bought ETH every week since launching its ETH treasury strategy in June 2025, providing a steady source of demand for the market. Lee also said the buying was completed during a bear market, though a large share of the purchases took place during last year’s bull market, when prices were higher.
DropsTab data shows BitMine’s ETH holdings are currently carrying an unrealized loss of about $4.5 billion. ETH was down about 5% over the past 24 hours on Wednesday, falling to its lowest level since Sept. 20.
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