Bitmine's $ETH accumulation spree is about to hit the brakes.
Chairman Tom Lee dropped the news at TOKEN2049: they're capping their stack at 5% of circulating supply. Only ~100k $ETH left to buy.
They currently hold 6M+ $ETH (~4.9% supply) worth $15.5B at today's prices. Started in June 2025, hit this level in just over a year—way faster than their 5-year plan.
The kicker? They're sitting on ~$4.5B in unrealized losses. Bought heavy during last year's bull run. $ETH down 5% in 24h, trading near $2,560. Weakest since Sept 20.
At their current pace, they'll hit the 5% target in 6-7 weeks. Have $643M cash on hand. Another 100k $ETH costs ~$258M.
Once they stop, that's one major bid disappearing from the market. Weekly buying pressure since launch—gone.
$ETH bleeding harder than $BTC right now (nearly 2x the drop). Price action looking shaky while macro liquidity stays tight.
Watch what happens when this buyer steps away.
Chairman Tom Lee dropped the news at TOKEN2049: they're capping their stack at 5% of circulating supply. Only ~100k $ETH left to buy.
They currently hold 6M+ $ETH (~4.9% supply) worth $15.5B at today's prices. Started in June 2025, hit this level in just over a year—way faster than their 5-year plan.
The kicker? They're sitting on ~$4.5B in unrealized losses. Bought heavy during last year's bull run. $ETH down 5% in 24h, trading near $2,560. Weakest since Sept 20.
At their current pace, they'll hit the 5% target in 6-7 weeks. Have $643M cash on hand. Another 100k $ETH costs ~$258M.
Once they stop, that's one major bid disappearing from the market. Weekly buying pressure since launch—gone.
$ETH bleeding harder than $BTC right now (nearly 2x the drop). Price action looking shaky while macro liquidity stays tight.
Watch what happens when this buyer steps away.