#Bitmine #Ethereum
🐋 BitMine Nears the Finish Line: Aggressive Ethereum Buying Spree Could End in Just 6 Weeks
The largest corporate holder of Ethereum is approaching its self-imposed cap. BitMine Immersion Technologies Chairman Tom Lee stated that the company will stop purchasing $ETH once its holdings reach 5% of the coin's total supply.
📊 Key Facts and Figures:
Current Holdings: As of October 4, BitMine holds 6,016,414 ETH (~4.9% of the total supply of 122.1 million ETH).
Remaining Amount: Only about 88,586 ETH (or approximately $221 million at a price of $2,500) is needed to reach the limit.
Available Resources: The company has $643 million in cash and securities, so there is more than enough liquidity to complete the strategy.
⏳ What Is the Timeline?
The last disclosed purchasing rate was 15,112 ETH per week. At this pace, BitMine will reach the 5% mark in approximately 5.9 weeks—meaning by mid-November 2026.
(According to Lookonchain data from October 7, the company may have already purchased an additional 12,500 ETH via BitGo, reducing the remaining balance to ~76,086 ETH and accelerating the process).
🔄 What Comes Next? Staking Replaces Purchasing
Once the capacity for open-market purchases is exhausted due to the 5% limit, the focus will shift to staking income:
As of October 4, BitMine had already staked 5.07 million ETH (~84% of its holdings), generating an estimated $363 million in annual revenue.
If the entire balance were staked, annual revenue at a 2.63% yield could rise to $431 million.
⚠️ The main challenge for the company:
Staking rewards will continuously increase the amount of $ETH on the balance sheet. This means that staking itself will push BitMine’s share above the 5% threshold. The company will have to either leave a "buffer" when making purchases or sell the staking rewards to avoid exceeding the established limit.
🐋 BitMine Nears the Finish Line: Aggressive Ethereum Buying Spree Could End in Just 6 Weeks
The largest corporate holder of Ethereum is approaching its self-imposed cap. BitMine Immersion Technologies Chairman Tom Lee stated that the company will stop purchasing $ETH once its holdings reach 5% of the coin's total supply.
📊 Key Facts and Figures:
Current Holdings: As of October 4, BitMine holds 6,016,414 ETH (~4.9% of the total supply of 122.1 million ETH).
Remaining Amount: Only about 88,586 ETH (or approximately $221 million at a price of $2,500) is needed to reach the limit.
Available Resources: The company has $643 million in cash and securities, so there is more than enough liquidity to complete the strategy.
⏳ What Is the Timeline?
The last disclosed purchasing rate was 15,112 ETH per week. At this pace, BitMine will reach the 5% mark in approximately 5.9 weeks—meaning by mid-November 2026.
(According to Lookonchain data from October 7, the company may have already purchased an additional 12,500 ETH via BitGo, reducing the remaining balance to ~76,086 ETH and accelerating the process).
🔄 What Comes Next? Staking Replaces Purchasing
Once the capacity for open-market purchases is exhausted due to the 5% limit, the focus will shift to staking income:
As of October 4, BitMine had already staked 5.07 million ETH (~84% of its holdings), generating an estimated $363 million in annual revenue.
If the entire balance were staked, annual revenue at a 2.63% yield could rise to $431 million.
⚠️ The main challenge for the company:
Staking rewards will continuously increase the amount of $ETH on the balance sheet. This means that staking itself will push BitMine’s share above the 5% threshold. The company will have to either leave a "buffer" when making purchases or sell the staking rewards to avoid exceeding the established limit.