BitMine held 6,016,414 ETH as of October 4, representing approximately 4.9% of Ethereum’s total supply. Chairman Tom Lee stated that the company will stop purchasing ETH once its holdings reach the self-imposed 5% limit.
In the latest Ethereum news, BitMine Immersion Technologies revealed that its Ethereum treasury had grown to approximately 6.02 million ETH by October 4. Lee confirmed that the company plans to end its accumulation strategy after reaching the 5% supply threshold, estimating that around 100,000 additional ETH would be needed to achieve the goal.
BitMine’s weekly Ethereum purchases have played a major role in its treasury strategy. The company stated that it has acquired ETH every week since launching the initiative on June 30, 2025. With the introduction of a fixed accumulation limit, this purchasing pattern now has a defined endpoint, although BitMine has not provided a timeline for reaching it.
The company’s regular purchases have also attracted attention because they contribute recurring demand to the Ethereum market while steadily increasing its digital asset reserves.
According to BitMine’s October 4 disclosure, the company’s holdings totaled 6,016,414 ETH, while Ethereum’s relevant supply stood at approximately 122.1 million tokens. Based on these figures, BitMine controls nearly 4.9% of the supply and is approaching its stated 5% ceiling.
Lee’s estimate of approximately 100,000 ETH remaining is a rounded projection. Calculating 5% of the reported 122.1 million ETH supply and subtracting BitMine’s existing holdings results in a gap of roughly 88,586 ETH. The difference may reflect rounding or variations in the supply assumptions used.
Meanwhile, BitMine shares continue to trade below the estimated value of the company’s underlying ETH holdings. BMNR closed at $24.19 on October 8, recording a 5.9% daily decline. Its estimated net asset value was $26.51 per share, leaving the stock at an 8.8% discount and placing its market net asset value ratio (mNAV) at 0.91x.
Ether was trading near $2,539, down 1.5% over 24 hours and below the approximately $2,700 level observed in early October.
BitMine disclosed that it purchased another 15,112 ETH during the previous week. Given the size of its holdings, the remaining distance to the 5% threshold has become an important factor for investors assessing the company’s future purchasing activity.
Ethereum News: BitMine’s Staking Strategy After the Accumulation Limit
Beyond buying ETH, BitMine has committed a substantial portion of its treasury to staking. The company reported that 5,067,309 ETH had been staked as of October 4, accounting for approximately 84% of its total holdings.
BitMine estimated that its staking operations could generate annualized revenue of $363 million, with potential annualized rewards reaching approximately $431 million at scale. These amounts are company projections rather than confirmed earnings or guaranteed returns. However, they demonstrate the potential role of staking income in supporting its treasury strategy after ETH purchases eventually stop.
Lee also reiterated that BitMine acquired 15,112 ETH during the previous week and has continued buying every week since the launch of its Ethereum Treasury Strategy on June 30, 2025. He described the company’s consistent cryptocurrency purchasing record as unmatched among publicly traded firms.
As BitMine moves closer to its 5% Ethereum supply limit, attention may increasingly turn to how it manages its existing assets rather than how quickly it can accumulate additional tokens. Staking performance, treasury operations and capital allocation are likely to remain key areas of interest, although the company has not yet outlined a formal strategy for after it reaches the ceiling.
