{"id":8980,"date":"2026-05-11T08:16:40","date_gmt":"2026-05-11T08:16:40","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=8980"},"modified":"2026-05-11T08:16:40","modified_gmt":"2026-05-11T08:16:40","slug":"bitmine-nears-massive-ethereum-goal-signals-it-may-tap-the-brakes-on-buying","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=8980","title":{"rendered":"Bitmine Nears Massive Ethereum Goal, Signals It May Tap the Brakes on Buying"},"content":{"rendered":"

<\/p>\n

\n
\n
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    \n
  • BitMine has amassed more than 5.1 million ETH, roughly 4.3% of total supply, in less than a year.<\/span><\/li>\n
  • Tom Lee said the firm could slow purchases after holdings exceed 5.18 million ETH.<\/span><\/li>\n
  • Supporting coverage said BitMine has been buying more than 100,000 ETH per week, worth about US$230 million.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    BitMine may slow its Ethereum (ETH) accumulation after building a treasury of more than 5.1 million ETH, putting Chairman Tom Lee\u2019s 5% supply target within weeks of completion.<\/p>\n

    Lee said at Consensus 2026 in Miami that BitMine is approaching what it calls the \u201calchemy of 5%,\u201d its goal of owning 5% of the total ETH supply. The company already controls roughly 4.3% of ETH, a position valued near US$11.9 billion (AU$16.54 billion) in supporting coverage.<\/p>\n

    The firm has recently been buying more than 100,000 ETH per week, worth about US$230 million (AU$319.7 million) at current prices.<\/p>\n

    Related: JPMorgan: Investors Are Choosing Bitcoin Over Gold in the Debasement Trade \u00a0<\/strong><\/p>\n

    There In Six Weeks, Says BitMine Chair<\/h2>\n

    As stated, Lee suggested BitMine could take its foot off the gas once holdings exceed 5.18 million ETH.\u00a0<\/p>\n

    \n
    \n

    At our current buying pace of 100,000 ETH a week, we\u2019re going to be there\u00a0 in like six weeks. I think we\u2019re deciding perhaps we want to accumulate at a somewhat slower pace.<\/p>\n<\/div>\n

    \n Tom Lee, Chairman of BItMine. <\/div>\n<\/div>\n

    BitMine began its strategic pivot after Lee became chairman in June 2025 and a US$250 million (AU$347.5 million) private placement helped seed the treasury plan.<\/p>\n

    The thesis behind the strategy lies in BitMine\u2019s approach to staking yield, real-world asset tokenisation, stablecoin growth and Ethereum\u2019s role as institutional infrastructure.<\/p>\n

    Holding nearly 4.3% of ETH gives the company enormous exposure to Ethereum\u2019s upside, but it also means shareholder returns depend heavily on treasury management, staking execution and Lee\u2019s ability to turn the holding into productive yield.<\/p>\n

    Read more: Bitcoin-Backed \u2018Digital Credit\u2019 Market Eyes US$3 Trillion Opportunity<\/strong><\/p>\n<\/p><\/div>\n

    BitMine,Ethereum#Bitmine #Nears #Massive #Ethereum #Goal #Signals #Tap #Brakes #Buying1778487400<\/p>\n","protected":false},"excerpt":{"rendered":"

    BitMine has amassed more than 5.1 million ETH, roughly 4.3% of total supply, in less than a year. Tom Lee said the firm could slow purchases after holdings exceed 5.18 million ETH. Supporting coverage said BitMine has been buying more than 100,000 ETH per week, worth about US$230 million. BitMine may slow its Ethereum (ETH)<\/p>\n","protected":false},"author":1,"featured_media":8981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[439,4436,501,31,4434,34,1019,206,4435],"class_list":{"0":"post-8980","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-bitmine","9":"tag-brakes","10":"tag-buying","11":"tag-ethereum","12":"tag-goal","13":"tag-massive","14":"tag-nears","15":"tag-signals","16":"tag-tap"},"yoast_head":"\nBitmine Nears Massive Ethereum Goal, Signals It May Tap the Brakes on Buying - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=8980\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitmine Nears Massive Ethereum Goal, Signals It May Tap the Brakes on Buying\" \/>\n<meta property=\"og:description\" content=\"BitMine has amassed more than 5.1 million ETH, roughly 4.3% of total supply, in less than a year. 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