BitMine adds 12,535 ETH, treasury nears 5% supply target
Macro & Markets ·
BitMine's ether treasury reached 6.04 million ETH last week, bringing it close to the self-imposed cap on its accumulation strategy.
BitMine, led by Fundstrat's Tom Lee, added 12,535 ETH to its holdings over the past week, pushing its total stake to 6.04 million ETH, according to wublockchain.xyz. That total now represents about 4.9% of ETH's circulating supply, placing the company just short of the 5% threshold it has set for its buying program.
BitMine has said it intends to acquire up to 5% of all ETH in circulation, after which Lee has committed to halting further purchases. The figure matters because it marks a defined endpoint to a buying campaign that has steadily concentrated a meaningful share of ETH supply under one corporate treasury, rather than an open-ended accumulation strategy.
The latest addition was also confirmed by theblock.co, which reported the same 12,535 ETH weekly purchase and the resulting 6.04 million ETH treasury balance. The matching figures across outlets point to a single, verified disclosure of the week's accumulation rather than conflicting estimates.
Alongside the treasury update, Lee reiterated his expectation that ETH will reach at least $25,000 during the current cycle, a price target he has attached to BitMine's broader thesis of accumulating a large, fixed share of supply before stepping back from the market.
What remains unclear is the exact timeline for BitMine reaching the full 5% mark, how close the company is willing to get before formally stopping purchases, and whether the pledge to halt buying will hold once that threshold is crossed. It is also not yet known how the market will respond once BitMine's weekly accumulations end, removing a recurring source of purchase activity that has been documented across multiple reports this cycle.