BitMine Approaches 5% Ether Supply Target and Halts Weekly Purchases
What happened
BitMine announced it is nearing its target of holding 5% of Ethereum's supply and will stop further accumulation.
The Context
- BitMine's Strategy: Since June 30, 2025, BitMine has executed weekly purchases of Ether, amassing 6,016,414 ETH, or about 4.9% of the total supply.
- Staking Rewards: The company has staked 84% of its holdings, generating ongoing rewards independent of new purchases.
- Market Impact: The cessation of BitMine's corporate buying may alter Ether liquidity, but other factors like ETF flows could mitigate this effect.
The Number
— This figure represents BitMine's holdings as of October 4, 2026, valued at approximately $16.4 billion, highlighting the significant corporate interest in Ethereum.
Takeaway
As BitMine halts its purchases, watch for how other market dynamics, including staking and ETF activity, influence Ether's price trajectory.
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