In a recent disclosure from BitMine Immersion Technologies, the company reported holding an impressive 6,016,414 ETH as of October 4, 2026, which accounts for around 4.9% of Ethereum’s overall supply. Tom Lee, the Chairman of BitMine, has stated his intention to halt additional purchases once he reaches a self-imposed cap of 5%. He estimates that he has approximately 100,000 more ETH to acquire before hitting that threshold.
Since initiating its Ethereum acquisition strategy on June 30, 2025, BitMine has consistently purchased ETH on a weekly basis. Although the timeline for reaching this cap remains unspecified, the clear purchasing limit indicates a deliberate approach to managing their Ethereum holdings.
This is rounded up…x% https://t.co/UCdtpn1qL4
— Bitmine (NYSE-BMNR) $ETH $BMNP (@BitMNR) October 5, 2026
Participate in Coinspeaker’s $1,000 Prize Drop with Bybit
Current ETH Holdings and Future Acquisitions
Bitmine BMNR
The latest figures reveal that the overall ETH supply stands at approximately 122.1 million. With BitMine’s current 6,016,414 ETH holdings, the company is nearing its predetermined limit. The estimate provided by Lee indicates that roughly 100,000 ETH remains to be purchased; however, based on mathematical calculations considering the stated supply, this number may be closer to 88,586 ETH. It’s crucial to note that such estimates may vary based on the supplied data.
As of October 8, BMNR shares are trading at $24.19, reflecting a decline of 5.9% from the previous day. This valuation is in contrast to Ethereum, which is currently valued at approximately $2,539, down 1.5% in a 24-hour period.
Staking Strategy and Financial Outlook
In addition to accumulating ETH, BitMine has revealed a robust staking strategy. As of October 4, a substantial portion—5,067,309 ETH or 84% of their ETH holdings—has been staked, demonstrating commitment to generating returns from these assets.
BitMine anticipates annual staking revenues of up to $363 million with estimated rewards potentially hitting $431 million. These projections highlight the importance of staking within BitMine’s financial framework, even as their accumulation phase approaches a conclusion.
Lee affirmed that the company’s regular ETH purchases are unparalleled among publicly traded entities. As they close in on the 5% supply cap, how BitMine navigates its financial strategy will be critical. Stakeholder management and subsequent capital allocation strategies will be significant areas to watch, yet specific plans post-cap remain undisclosed.
The intersection of BitMine’s ETH accumulation efforts and its overarching financial strategy will remain vital, particularly as the company transitions past its defined accumulation limit.
Disclaimer: Coinspeaker strives to deliver accurate and timely reporting. This article is for informational purposes and should not be construed as financial or investment guidance. Given the volatile nature of market conditions, conducting independent verification and consulting professional advisory services is recommended before making financial decisions based on this content.
Daniel Frances is a technical writer and educator in Web3, with a specialization in macroeconomics and DeFi principles. A crypto enthusiast since 2017, Daniel uses his background in on-chain analytics to produce data-driven reports and insightful guides. He holds certifications from The Blockchain Council, dedicated to providing clear information about blockchain’s real-world applications.
