BitMine Immersion Technologies will stop accumulating Ether once its holdings reach 5% of the cryptocurrency circulating supply, Chairman Tom Lee said, drawing a line under one of the market's most persistent sources of institutional demand for ETH.

Lee, the Wall Street strategist who co-founded research firm Fundstrat Global Advisors, made the announcement at Token2049 in Singapore, one of the crypto industry's largest annual conferences. He said the company is nearing its target after accumulating about 6 million ETH, equivalent to roughly 4.9% of Ether's circulating supply — leaving it just a fraction of a percentage point short of the ceiling it set for itself.

Ether treasury strategies adopted by public companies in recent years have largely mirrored the corporate bitcoin accumulation playbook popularized by Strategy, formerly MicroStrategy. BitMine's buying campaign, which began in mid-2025, has made the company the world's largest Ethereum treasury. By publicly naming a stopping point, BitMine has given its accumulation program a defined endpoint rather than an open-ended buying mandate.

The announcement marks a shift in strategy as BitMine approaches the ceiling it has set on its Ether holdings. The company most recently acquired an additional 15,112 ETH for about $41 million, lifting its total holdings to 6,016,414 ETH. Reaching the 5% threshold would place a substantial share of all Ether in existence under a single corporate treasury.

For the broader Ether market, the planned halt removes a steady source of demand that has helped underpin BitMine's aggressive accumulation strategy over the past year. How the company stewards its position once buying ends, and whether other Ether treasury firms adopt similar self-imposed caps, are among the questions that follow from the announcement.

The report was originally published by BitcoinKE.