Bitmine holds 6 million ETH, worth nearly $14.5 billion, to halt purchases at a 5% supply cap.

According to Huoxing Finance, Tom Lee, Chairman of Bitmine, a crypto asset treasury company, stated that Bitmine holds approximately 6 million ETH, representing 4.9% of ETH’s total supply—just 100,000 ETH short of the 5% limit, a cap originally proposed by Vitalik Buterin. Once the limit is reached, Bitmine will cease purchasing. Tom Lee noted that the company initially planned to execute this strategy over approximately five years, but achieved 4.9% of ETH’s total supply in just over a year. Bitmine continued buying during the bear market, making large purchases when ETH was trading around $1,500. After acquiring an additional 12,535 ETH, its holdings increased to 6,041,481 ETH, valued at nearly $14.5 billion at the time. Two days later, the company staked an additional 159,728 ETH, bringing the proportion of treasury assets staked to approximately 86.5%.