Will Bitmine Hold Its Ethereum Purchases After Reaching 5%?

• Tom Lee has said that Bitmine may not increase its Ethereum purchases once it reaches its 5% target.

Bitmine Immersion Technologies (BMNR) has maintained its Ethereum (ETH) buying effort since June 2025. The company’s accumulation matches its “Alchemy of 5%” initiative, which aims to secure 5% of Ethereum’s circulating supply.

Bitmine Is Not Rushing to Act

According to Monday’s purchase update, Bitmine has accumulated approximately 6.07 million ETH. That purchase represents about 4.97% of Ethereum’s 122.2 million token supply, bringing the company within roughly 99.4% of its objective.

As it nears its 5% target, some members of the crypto community have begun asking whether Bitmine will buy more Ethereum. The company’s chairman, Thomas “Tom” Lee, has addressed that question in a recent interview with Altcoin Daily.

Lee noted that Bitmine is “not in a rush to do anything” once it secures 5% of Ethereum’s total supply. He also said that part of the company’s decision comes from a request made by the blockchain’s founders.

Responding to a Request From Ethereum Founders

The Bitmine chair explained that Vitalik Buterin and Justin Drake did not want any single entity to hold excessive Ether. Still, Lee said Bitmine is “in a good position” given its standing in the Ethereum ecosystem.

Lee also said Bitmine is generating nearly a 3% return on the ETH it has staked through its proprietary MAVAN (Made in America Validator Network) and its partners. He estimated the staking returns at around $400 million annually.

Rather than buying more Ether, Lee said Bitmine will prioritize stock buybacks. He explained that this could create more value for shareholders by increasing the amount of Ethereum per share.

Outlook on Ether

The conversation later shifted to Lee’s outlook on Ethereum. Despite ongoing market headwinds, the Bitmine chair reiterated that the crypto bull market had only just begun. He expects it to enter a super cycle that could lead to a new all-time high for ETH, describing it as the market’s “biggest ever” rally.

Lee pointed to NFTs and stablecoins as catalysts for earlier bull cycles. This time, he projected that Wall Street tokenization beyond stablecoins will be a key driver of the current trend.

Meanwhile, Lee declined to call a bubble in the AI sector. He said it has more room to grow into the first half of the next decade.

Source link