FreeTheAI

BitMine Immersion Technologies to Halt Ethereum Buying Upon Reaching 5 Percent Supply Milestone

NeutralMedium impact
ETHUSD$2,497.13 1.03%BMNR$24.04 −2.51%

BitMine Immersion Technologies Inc (BMNR), the largest corporate holder of Ethereum (ETH), plans to stop purchasing the cryptocurrency once its holdings reach 5% of the total circulating supply. The company is currently about 100,000 tokens away from this threshold, holding 6,016,414 tokens (roughly 4.9% of the supply) as of October 4, 2026. At current market prices of $2,569 per token, purchasing the remaining 89,000 tokens will cost approximately $230 million.

Stopping these purchases means the firm will no longer need to raise capital to fund its aggressive buying strategy, which began in June 2025. Over the last 15 months, the company acquired 6 million tokens. While its heavy buying in August 2025 coincided with a 15.8% price surge and a peak near $4,953, its continued weekly purchases in 2026 did not prevent Ethereum from falling below $2,000 in June. At that point, BitMine's holdings were valued at $9 billion below their purchase price.

Investors will monitor the company's next weekly holdings update to see how quickly it completes the remaining purchases. Additionally, the broader market is experiencing outflows, with U.S. spot Ethereum exchange-traded funds losing about $408 million over six days, representing roughly 152,000 tokens. Despite halting its acquisitions, BitMine expects to earn around $363 million annually from its 5.07 million staked tokens.

Key points

  • BitMine Immersion Technologies will halt Ethereum purchases once its holdings reach 5% of the total supply.
  • The company currently holds over 6 million tokens, representing about 4.9% of the circulating supply.
  • Acquiring the remaining 89,000 tokens will cost approximately $230 million at current prices.
  • BitMine will no longer need to raise external capital to fund acquisitions once the buying program ends.
  • The firm still expects to generate roughly $363 million per year from its 5.07 million staked tokens.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

How we writeDisclaimer

Questions and answers

Why is BitMine stopping its Ethereum purchases?

BitMine Immersion Technologies is halting purchases because it is nearing its target of owning 5% of the total Ethereum supply, meaning it will no longer need to raise capital to fund acquisitions.

How much Ethereum does BitMine currently own?

As of October 4, 2026, BitMine held 6,016,414 Ethereum tokens, which is approximately 4.9% of the total circulating supply.

How much will BitMine earn from its remaining holdings?

BitMine expects to generate about $363 million annually from its 5.07 million staked Ethereum tokens.