Blockchain

BitMine Will Stop Buying ETH at 5% of Supply, Tom Lee Says

Read full article at source ↗

Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 07/10/2026, 16:57:25 UTC.

Briefings

BitMine announced it will cease purchasing Ethereum at 5% of the total supply on October 7, 2026. This decision follows a report of approximately 6 million ETH held by the company as of October 4, 2026, with an estimated 100,000 tokens remaining before the 5% threshold is reached. The action marks a significant shift in the company's long-term token acquisition strategy, potentially signaling a transition from a buyback program to a more passive holding model.

Key points

• BitMine will stop buying ETH at 5% of the supply starting October 7, 2026.
• The company held approximately 6,016,414 ETH as of October 4, 2026, with an estimated 100,000 tokens remaining before the 5% threshold.

Context

BitMine, a major Ethereum holder, announced a cessation of its 5% buyback program on October 7, 2026. This follows a report of approximately 6 million ETH held by the company as of October 4, 2026, with an estimated 100,000 tokens remaining before the 5% threshold is reached. The action marks a significant shift in the company's long-term token acquisition strategy, potentially signaling a transition from a buyback program to a more passive holding model.

Limitations

The evidence is limited to a single article from October 7, 2026, which reports the company's decision and provides a snapshot of ETH holdings as of October 4, 2026. The exact date the buyback program officially ends is not specified, only the announcement date. The total supply of ETH is not provided, making the 5% threshold calculation based on an unverified total supply figure. The article does not confirm the long-term impact of this decision on the network or the company's financial strategy beyond the stated cessation of purchases.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 30/10/2026, 16:22:58 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

View archived briefing on IPFS
bafybeigjfbgy6pnk2fnvzoqqtn2ajkspxr2rzlhvcuxhcdkqwhv2bgjvpy