BitMine announces a hard cap of 5% on its $ETH holdings. Chairman Tom Lee said in his keynote at Token2049 in Singapore that the company has accumulated around 6 million ether, about 4.9% of the supply, and is roughly 100,000 tokens short of its target. “This is a hard cap; we won’t acquire more than 5%.” Lee said that once acquisitions stop, the company will no longer need to raise funds to buy coins and could outperform ETH itself in the future. Staking rewards may be sold to prevent its share from exceeding 5%. This contrasts with his remark in August that the decision would depend on Ethereum adoption. #ETH #BitMine (Source: X)