BitMine could hit its 5% Ether supply target within weeks — then what?
BitMine Immersion Technologies is on track to hit its target of owning 5% of Ether’s supply by early November if its recent buying pace continues. Across 12 weekly updates from July 13 to Sept. 28, BitMine reported buying about 259,000 ETH, or roughly 21,600 ETH per week. Its latest holding was 6,001,302 ETH, equal to 4.9% of the 122.1 million ETH supply it cited. Reaching 5% would require about 6.105 million ETH, leaving a gap of roughly 103,700 ETH, which could be closed in about 4.8 weeks at the recent pace. BitMine had earlier expected to reach the goal in late 2026 and had slowed purchases in May. Chairman Tom Lee has said the firm may revisit the 5% question in 2027 and could sell staking rewards to keep its share stable. BitMine is also expanding its institutional staking business.
