Bitmine to Stop Buying ETH Once It Reaches 5% Supply Target

Ethereum-focused digital asset firm Bitmine will soon cease its multi-year accumulation of ether, a move that will remove a major source of steady institutional demand for the cryptocurrency.

Bitmine Chairman Tom Lee said at the TOKEN2049 conference in Singapore that the company will stop buying ETH once its holdings reach 5% of the token’s circulating supply. The firm currently holds over 6 million ETH, valued at approximately $15 billion, representing 4.9% of the supply.

To reach its 5% target, Bitmine requires roughly 100,000 more tokens. The company initiated its treasury accumulation strategy in June 2025, building a position that has made it the world’s largest Ethereum treasury holder.

The end of this sustained buying program comes as ether’s price has declined sharply from its 2025 highs. While Bitmine’s consistent purchases may have provided underlying support for the asset, the market will now absorb the absence of this predictable institutional demand.