Bitmine chairman Tom Lee announced at Token2049 that the company will cease purchasing Ethereum once it holds 5% of the circulating supply. Currently holding about 4.9% or 6 million ETH, Bitmine has been buying weekly since June 2025, providing steady demand. The halt will remove a consistent buyer from the market, which could impact Ethereum's price dynamics. Despite $4.5 billion in unrealized losses from earlier purchases at higher prices, Bitmine views reaching the 5% cap as a strategic milestone and plans no further accumulation beyond this point.
Bitmine's Ethereum holdings are nearing 5% of the circulating supply, a threshold at which the company plans to stop buying. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Oct 07, 2026 21:23 WIB: out of 50 major cryptocurrencies priced on Pluang, 5 rose and 43 fell today. Notable movers include AXS at Rp20.800 with a 1-day change of -9.61% and a typical hold time of 62 days, SUSHI at Rp4.173 down 9.21%, and XTZ at Rp5.484 down 8.74%.
BNP Paribas lowered Hormel Foods' price target from $26 to $23, indicating a potential 16.2% upside from its current price of around $19.80. Despite a 50.5% decline in its share price over five years, Hormel Foods remains attractive for dividend inve...
Barclays initiated coverage of Becton, Dickinson and Company (BDX) with an "Underweight" rating, indicating a cautious outlook for the medical technology stock. BDX is partnering with the U.S. government to boost domestic manufacturing and strengthen...
Morgan Stanley increased its price target for Eli Lilly to $1,430 from $1,419, maintaining an Overweight rating. This new target implies a potential upside of about 20.8% from the current share price of around $1,184. The adjustment reflects updated ...
Butler National Corporation has increased its common stock repurchase authorization by $10 million, raising the total to about $11.9 million and extending the program through April 30, 2029. This move reflects the company's strategy to balance capita...
Matter Labs has open-sourced the core permissioning engine of Prividium, its enterprise blockchain platform, under the Apache 2.0 license. This move allows institutions like Germany's Bundesbank, currently testing a self-hosted deployment, to inspect...
