BitMine Approaches 5% Ethereum Cap, Signals End to Buying Spree
BitMine Immersion Technologies is nearing its self-imposed limit of owning 5% of Ethereum's supply, with plans to halt further ETH purchases.
BitMine Immersion Technologies is nearing its self-imposed limit of owning 5% of Ethereum's supply, with plans to halt further ETH purchases. Ethereum (ETH) is trading at $2,577.40. This is an original TLT brief synthesising 4 outlets (Cryptopolitan, Live Bitcoin News, Decrypt, and others), with their figures cross-checked, plus live market data, as of Thu, 08 Oct 2026 02:45:02 UTC.
BitMine's accumulation has been a significant source of demand for Ethereum, and its shift to relying on staking revenue could impact ETH's price dynamics. The company's decision also highlights the growing importance of staking in the crypto ecosystem.
- BitMine to stop ETH purchases once holdings reach 5% of supply
- Company is ~100,000 ETH away from its accumulation target
- Staking revenue will replace ongoing ETH purchases
- Ethereum market cap is $314.99B, down 1.30% in 24 hours
Multiple outlets including Cryptopolitan, Live Bitcoin News, Decrypt, and CoinCodex confirm that BitMine is nearing its self-imposed limit of owning 5% of Ethereum's circulating supply. They agree that the company will halt ETH purchases once this threshold is reached, with Decrypt specifying that BitMine is approximately 100,000 ETH away from this target. While the outlets concur on the 5% limit and the impending end to BitMine's buying spree, only Live Bitcoin News mentions that the company plans to rely on staking revenue after reaching the limit.
- BitMine Approaches 5% Ethereum Cap, Signals End to Buying Spree — this brief
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- Ethereum Approaches $2,700 Amid Bullish Momentum and Technical Support
BitMine Immersion Technologies has been steadily accumulating 
Ethereum since June 30, 2025, becoming a major source of consistent demand for the cryptocurrency. The company's chairman, Tom Lee, has announced that this accumulation will cease once BitMine's holdings reach 5% of Ethereum's total supply.
According to Decrypt, BitMine is currently about 100,000 ETH away from its 5% target, which translates to roughly six to seven weeks of purchasing at the current rate. This information was shared by Lee at the Token2049 conference in Singapore, where he detailed the company's strategic shift from accumulation to relying on staking revenue.
Live 
Bitcoin News corroborates this, stating that BitMine is approaching its accumulation limit after building a treasury worth billions of dollars. The outlet also notes that Lee confirmed plans to stop buying ETH once the 5% threshold is reached, with staking revenue expected to replace ongoing purchases.
The decision by BitMine to halt ETH accumulation marks a significant shift in its strategy and could have implications for Ethereum's price dynamics. The company's buying spree has been a consistent source of demand, and its transition to staking revenue could alter the supply-demand balance in the market.
As of the latest market data, Ethereum is trading at $2579.24, down 1.30% in the past 24 hours and 3.99% over the past week. The total crypto market cap stands at $2.9 trillion, with Bitcoin also experiencing a slight decline of 0.84% in the same period. The overall market sentiment, as measured by the Fear & Greed Index, remains in 'Greed' territory at 64.
Since this brief published about 7 hours ago, Ethereum (ETH) has moved from $2,579.24 to $2,577.40 — -0.07%.
The chart plots ETH's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Over the past 24 hours ETH moved -1.3% while Bitcoin moved -0.8%. ETH has historically moved about 1.22× Bitcoin, implying roughly -1.0% today — so this is roughly what its usual link to Bitcoin would predict.
Beta computed by TLT from ~120 days of daily returns; context only, not advice.
Over the past 12 months, Ethereum (ETH) closed within 5% of today's $2,577.40 on 35 separate days. Here is what the price did afterwards on those days — a historical base rate, not a forecast:
Computed by TLT from 12 months of daily closing prices. A base rate describes the past distribution of outcomes from similar price levels — it does not predict the future and ignores the specific news in this story. Crypto is volatile and past performance is not indicative of future results. Not financial advice.
At today's peer-to-peer rate, 1 ETH ≈ ₦3.52M (about $2,577.40), down 1.3% over 24 hours. The naira itself trades about 2.7% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 5 outlets reporting this story.
TLT extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
BitMine Approaches 5% Ethereum Cap, Signals End to Buying Sp — questions & answers
What is BitMine's target for Ethereum holdings?
BitMine aims to own 5% of Ethereum's circulating supply.
When will BitMine stop buying Ethereum?
BitMine will stop buying Ethereum once its holdings reach 5% of the supply, which is about 100,000 ETH away.
What will replace BitMine's ETH purchases?
Staking revenue will replace ongoing ETH purchases after the 5% target is reached.
How much is 1 Ethereum worth in naira today?
About ₦3.52M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $2,577.40. The naira price moves with both ETH's US-dollar price and the USDT/NGN rate; use our Ethereum in naira page for any amount.
Has Ethereum's price moved since this brief was published?
ETH is down 0.07% since this brief first published — trading at $2,577.40 now versus $2,579.24 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Cryptopolitan, Live Bitcoin News, Decrypt, CoinCodex, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.