Bitmine Nears 5% ETH Holdings After $214M Purchase, Signals Slowdown
BMNR•Bitmine has purchased over 5.5 million ETH since mid-2025, increasing its holdings to 4.59% of the 120.7 million-coin supply via recent $206 million, 125,000-coin buys. Chairman Tom Lee indicated the firm will likely pause further accumulation once the 5% target is reached.
1. ETH Accumulation Strategy
Bitmine launched its Ethereum treasury strategy in mid-2025, acquiring over 5.54 million ETH—approximately 4.59% of the 120.7 million-coin market—making it the largest institutional ETH holder.
2. Approaching 5% Target
Chairman Tom Lee signaled that accumulation could slow as the company nears its self-imposed 5% supply target, suggesting diminished weekly purchase volumes once the threshold is reached.
3. Recent Purchase Highlights
The firm added 126,971 ETH valued at $214 million last week, following a three-day spree totaling 125,000 coins worth $206 million, underscoring the aggressive buying pace that fueled earlier gains.
4. Stock and Index Impact
Bitmine’s looming addition to the Russell 1000 Index could bolster its sagging stock, though the slowdown in ETH purchases may temper investor enthusiasm and valuation momentum.
