{"id":14222,"date":"2026-10-08T11:46:46","date_gmt":"2026-10-08T11:46:46","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=14222"},"modified":"2026-10-08T11:46:46","modified_gmt":"2026-10-08T11:46:46","slug":"bitmines-ethereum-buying-spree-could-end-in-six-weeks","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=14222","title":{"rendered":"BitMine\u2019s Ethereum buying spree could end in six weeks"},"content":{"rendered":"

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BitMine Immersion Technologies Chairman Tom Lee said the company will stop accumulating Ethereum once its holdings reach 5% of the cryptocurrency\u2019s supply, capping the strategy that made it ETH\u2019s largest corporate holder.<\/p>\n

Speaking at TOKEN2049 in Singapore, Lee said BitMine was already close to that limit and would not pursue an open-ended accumulation campaign. He said:<\/p>\n

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\u201cWe only need to get another 100,000 ETH to get to 5%.\u201d<\/p>\n<\/blockquote>\n

Notably, the company is actually slightly closer than Lee\u2019s rounded estimate suggests. BitMine held 6,016,414 ETH as of Oct. 4, equal to about 4.9% of the 122.1 million ETH supply cited in its latest disclosure.<\/p>\n

This means BitMine would need roughly 88,586 ETH to reach 5% of the 122.1 million ETH supply used in its calculations.<\/p>\n

At an illustrative ETH price of $2,500, acquiring the remainder could cost roughly $221 million. BitMine reported $643 million in cash and marketable securities, giving it enough disclosed liquidity to cover the gap while retaining most of that liquidity.<\/p>\n

BitMine could reach its 5% ceiling within weeks<\/h2>\n

BitMine\u2019s latest official purchase rate puts Lee\u2019s 5% ceiling within reach before the end of the year, even if the company slows its accumulation.<\/p>\n

The company added 15,112 ETH in the week through Oct. 4, its latest disclosed weekly purchase. At that pace, acquiring the remaining 88,586 ETH would take about 5.9 weeks, putting the threshold within reach around mid-November.<\/p>\n

A faster buying program would shorten the timeline. If BitMine increased purchases to 20,000 ETH per week, it could close the gap in roughly 4.4 weeks. At a slower rate of 10,000 ETH per week, the process would take about 8.9 weeks, pushing the milestone into early December.<\/p>\n

Those scenarios are projections rather than company guidance. BitMine has not committed to a fixed weekly purchase schedule, and changes in Ethereum\u2019s total supply could alter the number of tokens corresponding to a 5% stake.<\/p>\n

Meanwhile, there are also signs that BitMine may have already made further progress beyond its latest disclosure.<\/p>\n