Bitmine Chairman Tom Lee Says ETH Purchases Will Stop at 5% of Circulating Supply, Holdings Currently Near 4.9%

Bitmine Chairman Tom Lee said the company will stop accumulating ETH once its holdings reach 5% of the token’s circulating supply. Bitmine currently holds 6,016,414 ETH, or roughly 4.9% of the circulating supply, and needs to purchase about 100k more tokens, which would take an estimated six to seven weeks at last week’s buying pace.

Bitmine has purchased ETH weekly since launching its Ethereum treasury strategy in June 2025. According to its latest update, the company bought another $41 million worth of ETH last week and held approximately $643 million in cash and marketable securities. — link