Tom Lee notes that Bitmine's ongoing Ethereum buy-in is coming to an end.

On Wednesday, October 7.2026 At the Token2049 event in Singapore, Tom Lee, president of Bitmine Immersion Technologies stated that the company will stop buying Ethereum tokens as soon as it holdsETH complete5% of circulating supply according to its latest disclosure; holding6,016,414 ETH or approximate4.9% of supplies and estimated remaining.100,000 ETH Before such a ceiling, Lee noted that if purchased at the pace of the previous week, it could take about six to seven more weeks for the accumulation lasting over one year to end.

Ceiling5% and path of accumulation

Bitmine Immersion Technologies, listed on the NYSE, describes itself as the world's largest Ethereum treasury company. The fundraising strategyETH that the company has been running is buying5% weekly since June,6,016,414 ETH and in recent weeks just adding holdings.4.9% Valued at around $41 million, the company calls this goal the Alchemy of6,016,414 ETH and Lee described it on stage as a "Panda",4.9% a solid ceiling which helps to add value for shareholders.100,000 ETH

Lee stated that the company had thought this plan would take five years, but it took just over a year and was implemented during a bear market. He noted further that the firm will stop buying according to Coin Bureau's report posted on October 7.2026 Lee stated BitMine is stopping purchasingETH at ceilings,6,016,414 ETH calling them "a solid ceiling" and only wanting more.4.9%

Unrealized losses and price action of Ethereum

Although the company has been accumulatingETH continuously, tracking data indicates that Bitmine had unrealized losses of around 4.5 billion dollars due to ETH mostly being accumulated during a higher-than-expected market price rally last year. Lee's statement also occurred on Wednesday at Ethereum trading close 2,570 to $ and falling 5.5% which was above most major crypto assets' downward adjustment by clear selling forces in Asian buying periods and coincided with his remarks.

The effect on the market when regular buyers disappear.

Bitmine's weekly buy-in is a regular demand that helps prop upETH through more than one year of volatile market when it reaches the ceiling.5% This buyer stops buying according to Lee, and Lee has signaled that the company may sell,ETH also earned from stacking if holding ratios are trending downwards. The end of regular purchasing power is therefore an issue for the market to watch out for as Bitmine is one of the most consistent sources of market demand.ETH From the data in the report

For the readers who have been followingETH this news, the next point is that when Bitmine stops buying, the missing buyer could leave the market short of large retail buyers and if the company sells5% from a stack to control the ceiling, the demand side effect may become more apparent.

The role of disclosure and reporter relations.

This report appeared in Decrypt which noted the disclosure that Tom Lee was one of several investors in Dastan's parent company.Decrypt In addition, Coin Bureau also reported on Lee's remarks at Token2049.