Ether is about to lose a steady buyer as Tom Lee says Bitmine will stop token purchases
Source: CoinDesk ·
From the source
Tom Lee said Bitmine will be “done stacking” once it owns 5% of ETH, setting an end date to an accumulation streak that began in mid-2025 and made the company the world's largest Ethereum treasury. Ether ETH $2,620.04 , the second-largest cryptocurrency, is about to lose one of its most persistent sources of demand as Ethereum-focused digital asset treasury firm Bitmine BMNR $24.92 · Market Closed will soon stop accumulating the token. Bitmine chairman Tom Lee, speaking Wednesday at TOKEN2049 in Singapore, said the firm will stop accumulating ETH once its holdings reach 5% of the token’s circulating supply, setting a hard ceiling on a buying spree that has made the company one of the world’s largest ETH holders. “We only need to get another 100,000 ETF to get to 5%,” he said. “Now we're going to stop,” he added. Bitmine is already almost at that threshold. In its latest update , the company said Monday that it bought another $41 million in ETH last week, bringing its holdings to…