Bitmine's Relentless Ethereum Buying Is About to End, Tom Lee Says
Tom Lee said at Token2049 in Singapore that Bitmine is approaching a self-set cap on ETH purchases and is roughly 100,000 ETH away from it. Bitmine’s reported holdings were above 6 million ETH as of Oct. 4, and the 5% threshold would mark the end of the buying program.
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What it means
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Users and market watchers who have tracked Bitmine’s accumulation now have a clearer endpoint to watch: the 5% supply cap Lee described. That matters today because it places the next phase around how close the company is to that threshold rather than around open-ended buying, with the timing tied to the six-to-seven-week estimate he gave in Singapore.
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 11 days ago | BitMine Shares Outperformed Ethereum in 2026, and Tom Lee Highlights One Move event | 2 actors in common · 2 news media |
| 11 days ago | BitMine Lifts ETH Treasury to 6.02 Million With Smallest Buy Since Mid-August event | 2 actors in common · 10 news media |
| 17 days ago | Inside the company staking more than 5 million ETH event | 2 actors in common · 2 news media |
| 17 days ago | Tom Lee Says the Biggest Crypto Bull Run Ever Is Starting. Here's Why event | 2 actors in common · 2 news media |
| 18 days ago | BitMine could hit its 5% Ether supply target within weeks — then what? event | 2 actors in common · 2 news media |
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