BitMine Immersion Technologies may slow its Ethereum purchases as it closes in on its goal of holding 5% of the total ETH supply. The firm has already stacked nearly $12 billion worth of Ether, according to Tom Lee, who stated that BitMine could ease off its buying spree. The update suggests a possible shift in strategy for one of the largest corporate holders of ETH.
Approaching the 5% threshold
BitMine has been accumulating Ethereum for years, but the pace has drawn attention as its wallet inches toward the 5% supply mark. That threshold, if reached, would make BitMine one of the single largest known holders of the asset outside of the Ethereum Foundation. Reaching it also means the company's buying power could taper off — or stop entirely — once the target is hit.
Why slow down now?
Tom Lee, the founder of Fundstrat, said BitMine may slow Ethereum buys as it nears that milestone. He didn't specify a timeline or exact percentage, but the implication is clear: the accumulation phase could be winding down. For a firm that has been a steady buyer, any reduction in demand could be notable — though Lee didn't suggest a sell-off, just a slowdown.
Next steps for BitMine
The company hasn't publicly confirmed any change in purchasing strategy. It's unclear whether BitMine will halt buys entirely at 5% or simply reduce frequency. Either way, the market will be watching for the next update from the miner, which has been tight-lipped about its treasury management. Lee's comment is the first outside signal that the pace is set to ease.
