Bitmine Ends ETH Purchases After Reaching 5% of Supply

Bitmine plans to conclude its regular Ethereum purchasing program once it reaches 5% of the total ETH supply. CEO Tom Lee confirmed that the company currently holds approximately 6 million ETH, which constitutes 4.9% of the supply, leaving it about 100,000 ETH short of the target. Lee noted that the decision to stop at 5% was made at the request of Vitalik Buterin. Initially, the purchases were set to last for 5 years, but the goal was achieved in just over a year. Bitmine made significant purchases at a price of around $1,500 per ETH, and the current price is $2,400. On October 19, the company added 12,535 ETH to its wallet, bringing the total value to approximately $14.5 billion. Bitmine is also staking its ETH, adding 159,728 ETH to pools, which represents about 86.5% of their holdings. The conclusion of the buying program may not negatively impact the ETH price, as ETH ETFs continue to attract investments. In the first nine months of 2026, 7.96 million ETH were deposited into staking pools, indicating strong demand.

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