Bitmine, the world's largest Ethereum treasury holder, will cease purchasing Ether once its holdings hit 5% of the circulating supply, according to Chairman Tom Lee. Currently holding about 4.9% or 6 million ETH worth $15 billion, Bitmine needs roughly 100,000 more tokens to reach this target. The company began accumulating ETH in mid-2025, providing steady demand during a bear market, but its holdings now carry $4.5 billion in unrealized losses. This move signals the end of a major consistent buyer in the Ethereum market, which could impact ETH prices amid ongoing crypto market weakness.
Ethereum news shows Bitmine's planned halt in ETH buying. For readers following cryptocurrency, here is Pluang's market snapshot as of Oct 07, 2026 19:23 WIB: Out of 50 major cryptocurrencies, 5 rose and 44 fell. EGLD dropped 10.74% to Rp72.449 with 57% sell orders, THETA fell 10.51% to Rp3.867 with 100% sell orders, and UNI declined 10.42% to Rp142.635 with 65% buy orders.
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