Ethereum news: Tom Lee says Bitmine to soon stop buying ETH
Bitmine, led by Tom Lee, plans to stop buying ether (ETH) once its holdings reach 5% of the circulating supply, currently at 4.9%. The company holds 6.016 million ETH, worth $15.5 billion, and needs about 100,000 more tokens to reach its target. Bitmine's purchases have been steady since mid-2025, but ETH has declined sharply since then.
How this was made
The 30-second read
Why it matters
The announced stop to purchases removes a steady demand source, likely pressuring ETH price in the near term.
Market read
ETH may face short‑term downside as a major buyer exits, influencing trader sentiment across crypto markets.
What to watch
Bitmine still holds cash to buy later; a pause may be strategic rather than permanent.
Background
Bitmine, the world's largest Ethereum treasury, has been buying ETH weekly since June 2025, accumulating over 6 million ETH (~5% of supply).
Ticker impact
Bitmine will stop buying ETH after reaching a 5% holding, ending a steady demand source.
likely pressure as the market prices in reduced buying support
Bitmine's purchases have been a consistent demand floor; its exit removes that support.
Market effects
Crypto‑treasury strategies may be re‑evaluated as large holders scale back.
Global ETH markets could see short‑term volatility.
ETH is a top‑10 crypto by market cap; the news affects broad crypto sentiment.
Counterpoint
The cessation could be seen as a signal that ETH is overvalued, prompting short positions.
Key entities
- companyBitmine
Private firm holding a large ETH treasury.
- cryptocurrencyEthereum
Second‑largest crypto by market cap.
