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Bitmine nears end of Ethereum buying spree, needs 100,000 ETH more to hit 5% supply target

Market News
07 Oct 2026
Crypto Briefing
View Source
Neutral
Bitmine nears end of Ethereum buying spree, needs 100,000 ETH more to hit 5% supply target

Bitmine plans to stop buying Ethereum once its holdings reach 5% of the circulating supply, needing about 100,000 more ETH to hit this target. The firm has rapidly accumulated ETH since June 2025, now holding over 6 million ETH worth roughly $15.5 billion. Despite the large holdings, Bitmine faces unrealized losses of around $4.5 billion due to buying during higher market prices. At current purchase rates, the remaining ETH will be acquired in six to seven weeks, after which Bitmine’s consistent demand for ETH will cease, potentially impacting the market.

Ethereum is currently priced at Rp45.943.373 on Pluang as of Oct 07, 2026 23:02 WIB, showing a 4.97% decline in one day. Trading activity on Pluang leans heavily towards selling, with 75% of orders being sell orders. The typical holding period for Ethereum on Pluang is 107 days, indicating moderate investor patience amid market fluctuations.

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