Tom Lee stories

Oct 6, 2026

BitMine sets 5% Ethereum supply hard cap as holdings approach limit

BitMine Immersion Technologies announced it will cap Ethereum holdings at 5% of total supply, currently holding over 6 million ETH and needing about 88,586 more to reach the limit, according to Chairman Tom Lee.

Oct 6, 20262 sources

Top claims

▪BitMine Immersion Technologies has placed 5,067,309 ETH, or about 84% of its treasury, into staking through its Made in America Validator Network, earning a 7-day annualized yield of 2.63%
▪BitMine Immersion Technologies Chairman Tom Lee previously left open the possibility of accumulating more than 5% of Ethereum's supply depending on adoption, mentioning in an August 2026 interview that the company might revisit this threshold in 2027
▪BitMine Immersion Technologies' total corporate holdings are valued at around $17.4 billion, including its ETH treasury, $643 million in cash, and stakes in Beast Industries and Eightco Holdings

Subtopics

Ethereum1 Institutional crypto adoption1

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