Tom Lee's Bitmine will cease ETH purchases once holdings reach 5% supply cap, removing a major steady buyer from the market.
Macro & Markets ·
Bitmine will cease Ethereum purchases once its holdings reach 5% of circulating supply, a threshold roughly 100,000 ETH away from its current position of 6.01 million tokens. The company, which has bought ETH weekly since June 2025, currently holds approximately 4.9% of the supply worth $15.5 billion. At its recent buying pace of roughly $41 million weekly, Bitmine would reach its 5% cap in six to seven weeks, eliminating a consistent buyer that has provided unusual steady demand in the market.