BitMine reported holding 6,016,414 ETH on October 4, accounting for approximately 4.9% of Ethereum’s total supply. Chairman Tom Lee confirmed that the company intends to stop accumulating ETH once its holdings reach the 5% threshold.
In the latest Ethereum news, BitMine Immersion Technologies disclosed that its Ethereum reserves had reached approximately 6.02 million tokens. Lee said the company would halt further purchases after reaching its self-imposed ownership cap, estimating that roughly 100,000 ETH remained before hitting the target.
Since launching its Ethereum treasury initiative on June 30, 2025, BitMine has purchased ETH every week, making consistent accumulation a defining feature of its strategy. The newly established 5% ceiling provides a clear limit to this buying activity, although the company has not announced when it expects to reach the target.
BitMine’s recurring purchases have become an important factor in assessing its treasury expansion and its contribution to ongoing demand for Ethereum. As one of the largest corporate ETH holders, any change in its buying activity could attract greater attention from market participants.
The company’s October 4 report placed Ethereum’s relevant supply at approximately 122.1 million tokens. With 6,016,414 ETH in its treasury, BitMine controls close to 4.9% of that supply, bringing it nearer to the announced 5% limit.
Lee’s estimate that another 100,000 ETH would be required is approximate. Based on a supply of 122.1 million ETH, the 5% target equals 6.105 million tokens. Subtracting BitMine’s reported holdings leaves a difference of approximately 88,586 ETH, although the calculation depends on the supply figure used.
BitMine’s stock performance has also drawn attention as its shares trade below the estimated value of its Ethereum holdings. BMNR finished trading at $24.19 on October 8, falling 5.9% during the session. Its estimated net asset value was $26.51 per share, indicating an 8.8% discount and a market net asset value ratio (mNAV) of 0.91x.
At the same time, ETH traded near $2,539, down 1.5% over the preceding 24 hours and below the approximately $2,700 level recorded in early October.
BitMine also disclosed that it purchased 15,112 ETH during the previous week. With its holdings already approaching the announced ceiling, the pace of future acquisitions has become an important consideration for investors monitoring the company’s Ethereum strategy.
Ethereum News: BitMine Turns Attention Toward Staking and Treasury Management
BitMine’s strategy involves more than accumulating ETH. As of October 4, the company reported staking 5,067,309 ETH, equivalent to approximately 84% of its total holdings of around 6.02 million tokens.
The company projected annualized staking revenue of $363 million and estimated that annualized rewards could reach approximately $431 million at scale. These figures are forward-looking estimates rather than realized income or guaranteed returns. Still, they underline the potential importance of staking as a source of revenue if BitMine eventually stops purchasing additional ETH.
Lee reiterated that the company acquired 15,112 ETH over the preceding week and has maintained its weekly buying schedule since introducing the Ethereum Treasury Strategy in June 2025. He also claimed that BitMine’s record of consistent cryptocurrency purchases stands apart from those of other publicly traded companies.
As the company approaches its 5% ownership limit, investor attention may shift toward how BitMine manages its existing Ethereum reserves. Staking returns, treasury efficiency and capital allocation could become increasingly important to its long-term strategy. However, BitMine has yet to disclose a detailed plan for managing its treasury after reaching the accumulation cap.
