Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
ETH Bitmine Immersion Technologies is about to hit the brakes: Chairman Tom Lee announced that he will stop buying Ethereum
Bitmine Immersion Technologies is preparing to slow its expansion. Company Chairman Tom Lee said that once the company's Ethereum position reaches 5% of the token supply in circulation, the company will stop purchasing Ethereum, thus putting an end to one of the most stable sources of demand in the market.
In a speech at the Token2049 conference in Singapore, Lee said on Wednesday that the company is only about 100,000 ETH short of this threshold. Based on last week's acquisition pace, Bitmine will need to continue to accumulate for about six to seven weeks before stopping increasing its holdings.
"We thought it would take five years," Lee said on the stage,"but it turned out that we only took a little over a year. What's more, it was all done during a bear market." "Now, we will stop buying," he said.
The New York Stock Exchange-listed company is the world's largest Ethereum vault company. According to its latest disclosed data, as of recently, Bitmine holds 6,016,414 ETH units, accounting for approximately 4.9% of the circulating supply. Just last week, it added an additional ETH position worth approximately $41 million as the company neared its advertised "5% alchemy" goal.
Since launching its treasury strategy in June 2025, the company has been buying Ethereum every week, and this reliable demand support has helped the token weather the turbulent market phase. Therefore, the upcoming stop to buying behavior is of great significance to the entire market. Bitmine's weekly purchases have been a constant source of demand, and its cessation of purchases means that a buyer who has absorbed a large steady inflow of Ethereum for more than a year will withdraw from the market.
Lee has previously hinted that if the Ethereum acquired through pledge causes its shareholding to exceed the 5% limit, the company may even sell the Ethereum to maintain the proportion.
Despite this milestone achievement, Bitmine's current book performance is at a loss. Since most of the firings occurred at highs during last year's bull market, tracking data showed that the company faced unrealized losses of about $4.5 billion on its ETH holdings as Ethereum prices fell to about $2,570 on Wednesday.
Ethereum fell 5.5% today, more than most major crypto assets, and fell sharply during Asian trading hours, which coincided with Lee's remarks.
Despite this, Lee still regarded the achievement as a move of pride because he compressed his original five-year goal into more than a year. Once the 5% cap is reached, Bitmine's trademark spree buying spree and the resulting market demand will end.
