BitMine owned 6,016,414 ETH on October 4, representing roughly 4.9% of Ethereum’s total supply. Chairman Tom Lee confirmed that the company plans to suspend its ETH purchases once its holdings reach the self-imposed 5% limit.

In the latest Ethereum news, BitMine Immersion Technologies reported holding approximately 6.02 million ETH, bringing it close to its long-term accumulation target. Lee said the company would stop buying once it reaches the 5% threshold and estimated that it needs to acquire approximately 100,000 more ETH to achieve that goal.

BitMine has followed a consistent purchasing schedule since introducing its Ethereum treasury strategy on June 30, 2025. The company says it has bought ETH every week since the initiative began. Its decision to establish a 5% ownership ceiling now sets a potential endpoint for the buying streak, although no specific completion date has been announced.

The company’s regular acquisitions have become a notable part of its treasury strategy, contributing to the growth of its ETH reserves while creating a recurring source of market demand. As BitMine approaches its target, investors are increasingly focused on how much additional Ethereum the company will purchase before ending its accumulation phase.

According to the October 4 disclosure, Ethereum’s relevant supply was approximately 122.1 million tokens. BitMine’s reported holdings of 6,016,414 ETH therefore represented nearly 4.9% of that amount, putting the company within reach of its 5% target.

However, Lee’s estimate of roughly 100,000 ETH remaining is not an exact calculation. Applying the 5% threshold to a supply of 122.1 million ETH produces a target of 6.105 million tokens. After subtracting BitMine’s current holdings, the remaining amount is approximately 88,586 ETH. The difference may reflect rounding or the assumptions used in the company’s estimate.

BitMine’s market valuation has also come under scrutiny. BMNR shares closed at $24.19 on October 8, declining 5.9% during the trading session. The company’s estimated net asset value stood at $26.51 per share, meaning its stock traded at an 8.8% discount to that estimate. Its market net asset value ratio, or mNAV, was reported at 0.91x.

Meanwhile, Ethereum traded near $2,539, down 1.5% over 24 hours and below the approximately $2,700 level seen earlier in October.

BitMine reported acquiring another 15,112 ETH during the previous week. Given the scale of its treasury, the amount of ETH remaining before it reaches the 5% ceiling is becoming an increasingly important metric for investors tracking its accumulation strategy.

Ethereum News: BitMine’s Focus Could Shift to Staking After Reaching 5%

Accumulating ETH is only one component of BitMine’s broader treasury approach. The company reported that it had staked 5,067,309 ETH as of October 4, accounting for approximately 84% of its total holdings.

BitMine projected annualized staking revenue of $363 million, while estimating that annualized rewards could reach approximately $431 million at scale. These figures are company estimates, not realized revenue or guaranteed returns. Nevertheless, they highlight the potential role of staking in generating income from its Ethereum holdings after new purchases eventually stop.

Lee also confirmed that BitMine purchased 15,112 ETH during the previous week and has continued buying every week since launching its Ethereum Treasury Strategy on June 30, 2025. He described the company’s consistent cryptocurrency acquisition record as unmatched among publicly traded companies.

As BitMine moves closer to its 5% supply limit, the focus may gradually shift from expanding its holdings to managing the assets already in its treasury. Staking performance, capital allocation and treasury management could become central considerations for the company’s future strategy.

For now, BitMine has not announced a detailed plan for the period after it reaches the ownership cap, leaving investors watching both its remaining ETH purchases and its approach to managing its substantial Ethereum reserves.