From 24/7 Wall St. · Sam Daodu · · 1m 20s
BitMine Approaches ETH Purchase Limit
BitMine nears Ethereum buying cap as market seeks next buyer.
In brief
BitMine nears Ethereum buying cap as market seeks next buyer. BitMine will stop buying Ethereum once it reaches 5% of total supply, leaving market without major demand source. Originally reported by 24/7 Wall St..
Quick answers
- Who will buy Ethereum next?
- With ETFs selling, staking releasing ETH, and smaller firms buying less, it's unclear who will step in to buy Ethereum after BitMine stops.
- What is the key takeaway from BitMine Approaches ETH Purchase Limit?
- BitMine will stop buying Ethereum once it reaches 5% of total supply, leaving market without major demand source.
BitMine nears ETH buying cap
BitMine Immersion Technologies, the largest corporate buyer of Ethereum, will stop purchasing Ether once it reaches 5% of total supply.
“BitMine Immersion Technologies ( NYSE:BMNR | BMNR Price Prediction ), the largest corporate buyer of Ethereum ( CRYPTO:ETH ), has announced it will stop purchasing Ether once it reaches 5% of total supply.”
ETH price drops as BitMine approaches limit
After BitMine's announcement, Ether's price dipped 5% and BitMine's shares fell 6%.
“After Lee’s announcement, Ether’s price dipped about 5%, while BitMine’s shares fell 6%.”
BitMine holds 6 million ETH
BitMine currently owns about 6 million ETH, valued at $15 billion, representing 4.9% of Ethereum's total supply.
“BitMine currently owns about 6 million ETH, valued at around $15 billion, representing about .9% of the 122 million Ether in circulation.”
100,000 ETH left to reach 5% cap
BitMine needs 100,000 more ETH to reach its 5% cap, which it could complete in six to seven weeks.
“We only need to get another 100,000 ETH to get to 5%.”
ETH ETFs pull money for eight sessions
Ethereum ETFs have pulled money for eight straight sessions, dropping net assets from $17.69 billion to $15.64 billion.
“In 2026, spot Ethereum ETFs were significant buyers of ETH. However, starting September 28, investors began pulling money from these funds for eight consecutive sessions.”
Staking releases 800,000 ETH
Staking releases 800,000 ETH, worth $2 billion, back to holders who may sell.
“About 800,000 ETH, worth about $2 billion, is queued to be released back to holders who may decide to sell.”
Smaller firms can't replace BitMine
Smaller treasury firms hold less ETH and buy significantly less than BitMine, leaving market without major demand.
“Other smaller treasury firms that also hold Ether as a reserve follow a similar model to BitMine but on a smaller scale. They raise funds from investors and convert them into ETH. However, none match the amount of Ether BitMine has acquired.”
Who will buy Ethereum next?
With ETFs selling, staking releasing ETH, and smaller firms buying less, it's unclear who will step in to buy Ethereum after BitMine stops.
“As BitMine approaches its buying limit, few buyers are ready to replace its demand. With ETF investors selling off their holdings, staking supplying more Ether to the market, and smaller firms buying significantly less, it is unclear who will step in next.”
The short version
BitMine will stop buying Ethereum once it reaches 5% of total supply, leaving market without major demand source.
