Quick answer: BitMine held 6,028,946 ETH on Oct. 11, 2026, about 4.9% of ether’s 122.1 million supply, per its Oct. 12 release. That leaves roughly 76,000 ETH, about $190 million at CoinGecko’s $2,493 price, before the 5% hard cap Tom Lee says will end its buying.
BitMine ETH buying is entering its final stretch. The treasury company added 12,532 ETH in the week to Oct. 11, 2026, and now sits about 76,000 tokens below the 5% supply cap that chairman Tom Lee says will end its purchases.
That matters because BitMine has been one of ether’s steadiest buyers since mid-2025. At $2,492.71 on CoinGecko on Oct. 13, 2026, at 10:50 UTC, ether is down 2.5% in 24 hours and 8% in a week.
What did BitMine report on Oct. 12?
BitMine said it held 6,028,946 ETH as of Oct. 11 at 1:30 p.m. ET, according to its weekly release. It values that stack at $2,544 per coin, about $15.3 billion. At today’s CoinGecko price, it is closer to $15.0 billion.
The company also listed 214 BTC, $612 million in cash and securities, and stakes in Beast Industries and Eightco. In total, it put its holdings at $16.2 billion. The Block confirmed the 12,532 ETH purchase and the 4.9% share of the 122.1 million ETH supply.
How close is the BitMine ETH cap?
Five percent of 122.1 million ETH is about 6.105 million tokens. So BitMine needs roughly 76,000 more, worth about $190 million at the current price.
Lee called that level a hard limit at Token2049 in Singapore on Oct. 7. “That’s a hard cap. We’re not gonna be accumulating past 5%,” he said, as reported by Cointelegraph. Decrypt reported the same pledge.
However, the pace is slowing fast. Weekly buys fell from 17,362 ETH in the week to Sept. 27, to 15,112, and then to 12,532. That is a drop of about 13%, then 17%. Through mid-September, by contrast, it was still adding more than 27,000 ETH per week, Crypto Times noted.
By our math, last week’s pace would close the gap in about six weeks, which points to late November. If buys keep shrinking, it will take longer.
Why the end of BitMine ETH buying matters
First, it removes a buyer the market has relied on. BitMine has bought every week since June 30, 2025. Its last purchase was worth about $32 million at its own reference price.
Meanwhile, other demand is weak. US spot ether ETFs lost $85.4 million on Oct. 12, a 10th straight day of outflows, TokenPost reported. That single day was more than double BitMine’s last weekly buy. We tracked the start of this trend in our ether ETF outflows report.
Second, the cap changes the company’s story. Lee told the Token2049 audience that stopping means BitMine no longer needs to raise new money to buy ether. In other words, BitMine would shift from a growth buyer to a holder that mainly earns staking yield.
What about BitMine’s staking rewards?
This is the detail most coverage skips. BitMine reports 5,067,309 ETH staked, or 84% of its stack. Notably, that is the same figure it reported for Sept. 20 and Sept. 27.
At its stated 2.61% seven-day yield, a fully staked 6.105 million ETH would earn about 159,000 ETH a year. That is roughly 3,000 ETH a week, close to a quarter of last week’s purchase. As a result, staking alone could push BitMine past 5% unless it sells rewards. Lee has previously said it could do exactly that, Cointelegraph reported. If you are new to yield, our crypto staking guide explains how rewards accrue.
What to watch next
- Weekly releases. BitMine usually reports on Mondays. A buy below 10,000 ETH would suggest the end is near.
- Staking changes. A jump above 5,067,309 staked ETH would show the rewards question getting bigger.
- ETF flows. A turn back to inflows matters more than BitMine’s last few purchases.
- The CPI report on Oct. 14. Hot US inflation data could extend the October ETF outflows across bitcoin and ether.
You can follow live moves on our Ethereum price page. For a bitcoin-side comparison, see our latest Strategy holdings update.
BitMine ETH FAQ
How much ETH does BitMine own?
BitMine held 6,028,946 ETH as of Oct. 11, 2026, according to its Oct. 12 release. That is about 4.9% of ether’s 122.1 million supply and worth about $15.0 billion at CoinGecko’s $2,492.71 price on Oct. 13.
When will BitMine stop buying ETH?
Tom Lee said at Token2049 on Oct. 7, 2026, that BitMine will stop at 5% of supply. It needs about 76,000 more ETH. At last week’s pace of 12,532 ETH, that is roughly six weeks away.
Will BitMine sell its ETH after reaching 5%?
BitMine has not announced any plan to sell its main holdings. Lee has said it could sell ETH earned from staking to stay at or below 5%, according to Cointelegraph.
This article is for information only. It is not financial advice. Always do your own research (DYOR).
Sources
- BitMine weekly release via PR Newswire (Oct. 12, 2026)
- BitMine weekly release via PR Newswire (Sept. 28, 2026)
- BitMine weekly release via Newswire.ca (Sept. 21, 2026)
- The Block: Bitmine adds 12,532 ETH (Oct. 12, 2026)
- FinanceFeeds: Bitmine now holds 4.9% of Ethereum supply (Oct. 12, 2026)
- Cointelegraph: BitMine sets 5% ether supply hard cap
- Decrypt: Bitmine’s Ethereum buying is about to end
- Crypto Times: Bitmine crosses 6M ETH (Sept. 28, 2026)
- TokenPost: Ether spot ETFs extend outflow streak to 10 sessions
- CoinGecko: Ethereum price
