BitMine is closing in on its high-profile target of holding 5% of Ethereum’s total supply, according to comments from Chairman Tom Lee during the TOKEN2049 event in Singapore. Lee stated the
BitMine is closing in on its high-profile target of holding 5% of Ethereum’s total supply, according to comments from Chairman Tom Lee during the TOKEN2049 event in Singapore. Lee stated the company needs approximately 100,000 ETH more to achieve this milestone, after which its accumulation strategy will end.
Recent filings with the US Securities and Exchange Commission show that BitMine currently holds 6,016,414 ETH, amounting to about 4.9% of Ethereum’s circulating supply of 122.1 million tokens. This places the company just short of its self-imposed ceiling.
Lee emphasized the finality of the company’s accumulation plan, saying there will be no ETH purchases beyond the 5% mark.
“That’s a hard cap. We’re not gonna be accumulating past 5%,” said Tom Lee, Chairman of BitMine.
BitMine has maintained a consistent pattern of weekly ETH acquisitions since it launched its dedicated treasury strategy on June 30, 2025. The latest disclosed transactions include purchases of 27,562 ETH, 17,362 ETH, and another 15,112 ETH over consecutive weeks.
This disciplined accumulation has established BitMine as one of the most regular corporate buyers in the Ethereum spot market. The pace of BitMine’s acquisitions has increased considerably in recent months. In April, the company executed a single purchase of 101,627 ETH, followed by an additional 76,881 ETH in June, further advancing its progress toward the 5% goal.
The company’s position as the largest known corporate holder of Ethereum has made its activity particularly notable among market observers, not just for its scale but for the reliability of its buying pattern over nearly a year.
With BitMine nearing its target, the final phase of its buying would require roughly $250 million to $270 million at recent market prices. Observers say that after the 5% level is reached, further spot demand for ETH will need to be supplied by other institutional players, such as exchange-traded funds, corporate treasuries, and active crypto market participants.
While some may speculate on the potential impact of BitMine ceasing accumulations, market analysts caution that this does not necessarily diminish Ethereum’s broader support. Other participants may step in to absorb spot supply, especially as ETH remains a popular asset among institutions.
BitMine’s steady purchasing makes it a recurring example of significant corporate demand within Ethereum markets, and its holdings now make up the largest ETH treasury position among businesses globally.
Technical analysts monitoring spot flows also point to the growing influence of other segments, such as the meme token market, where rapid capital movements have become common. For example, data from Fomo App highlights a recent case involving the “Niu Lai” token, where an initial $99 investment grew to approximately $370,000 in a matter of days. This type of activity underscores the importance of monitoring investor timing and token selections, areas that Fomo App addresses with integrated token discovery, trade notifications, social feeds, and investor ranking tools.
As market participants watch the closing stage of BitMine’s accumulation strategy, attention is turning to the sources of future demand that will shape Ethereum’s long-term trajectory.
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