Bitmine Nears 5% of Ethereum Supply, Plans to Halt Purchases
Bitmine is approaching its self-imposed limit of owning 5% of Ethereum's total supply amid ongoing market uncertainty.
Bitmine is approaching its self-imposed limit of owning 5% of Ethereum's total supply amid ongoing market uncertainty. Ethereum (ETH) is trading at $2,391.59, down 0.7% since this brief published. This is an original TLT brief synthesising 2 outlets (Bitcoin.com, CoinCodex), with their figures cross-checked, plus live market data, as of Thu, 22 Oct 2026 15:15:02 UTC.
This significant accumulation of Ethereum by a major corporate player could influence market dynamics and investor sentiment, especially as it nears its self-imposed cap. The decision also reflects strategic positioning ahead of potential market shifts.
- Bitmine is 100,000 ETH away from reaching its 5% supply target
- The company plans to stop buying once it hits the 5% threshold
- Ethereum's market cap stands at $294.33B amid broader market decline
Both Bitcoin.com and CoinCodex report that Bitmine plans to cease its Ethereum purchasing program once it acquires 5% of the total ETH supply, a decision reportedly influenced by Vitalik Buterin. However, CoinCodex emphasizes the company's preparation for a potential bull market, while Bitcoin.com focuses on the specifics of the accumulation campaign and the remaining amount needed to reach the target. No outlet contradicts the 5% figure or the proximity to the goal.
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- BitMine's $390M Ethereum Deposit Pushes Staking to New Heights
- Bitmine Nears 5% of Ethereum Supply, Plans to Halt Purchases — this brief
Bitmine, a major corporate player in the cryptocurrency market, is nearing the end of its historic 
Ethereum accumulation campaign. The company is currently 100,000 ETH away from reaching its self-imposed limit of owning 5% of Ethereum's total supply, according to multiple outlets.
Chairman Tom Lee stated that the decision to cap purchases at 5% of ETH supply was influenced by discussions with Ethereum co-founder Vitalik Buterin. This strategic decision reflects the company's careful approach to market participation and its potential impact on Ethereum's price and liquidity.
The news comes as the broader cryptocurrency market experiences a downturn, with 
Bitcoin down 2.25% in the last 24 hours and the overall market cap at $2.81 trillion. Ethereum itself is trading at $2409.35, having fallen 2.35% in the past day but still up 2.66% over the last week.
Bitmine's accumulation campaign has been one of the most significant corporate purchases of Ethereum to date, with the company demonstrating a long-term commitment to the asset. The decision to halt purchases at 5% suggests a strategic understanding of market dynamics and the potential risks of owning too large a share of the supply.
As Bitmine approaches its target, market participants will be watching closely to see how this development affects Ethereum's price and whether other large investors follow a similar strategy. The company's preparation for a potential bull market, as noted by CoinCodex, could indicate expectations of future market movements.
Since this brief published about 3 hours ago, Ethereum (ETH) has moved from $2,409.35 to $2,391.59 — -0.74%.
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.
At today's peer-to-peer rate, 1 ETH ≈ ₦3.27M (about $2,391.59), down 4.5% over 24 hours. The naira itself trades about 2.4% 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 asset in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 2 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 Nears 5% of Ethereum Supply, Plans to Halt Purchases — questions & answers
How much Ethereum does Bitmine plan to buy?
Bitmine plans to buy until it owns 5% of Ethereum's total supply.
Why is Bitmine stopping at 5% of ETH supply?
The decision was influenced by discussions with Vitalik Buterin and reflects strategic market positioning.
What is Ethereum's current market price?
Ethereum is trading at $2409.35 as of the latest data.
How much is 1 Ethereum worth in naira today?
About ₦3.27M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $2,391.59. 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 0.74% since this brief first published — trading at $2,391.59 now versus $2,409.35 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 Bitcoin.com, 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.