Key takeaways
- BitMine adds 12,532 ETH, reaching 6.03 million tokens
- Tom Lee confirms purchases stop at 5% ownership
- Staking generates a projected $336M annual revenue run rate
The October 12 update places BitMine's Ethereum treasury at 6,028,946 ETH, worth approximately $15.34 billion using the company's October 11 reference price of $2,544.
Chairman Tom Lee has confirmed that BitMine intends to stop accumulating ETH once it reaches the 5% threshold, potentially ending one of Ethereum's most consistent sources of corporate buying.
BitMine Needs Just 76,000 ETH to Reach Its Limit
According to BitMine's latest announcement, the company acquired 12,532 ETH during the past week, extending its uninterrupted purchasing streak since June 30, 2025.
Based on the company's stated circulating supply of 122.1 million ETH, its 5% ownership target equals approximately 6.105 million tokens. BitMine therefore needs around 76,000 additional ETH to reach that threshold.
At $2,544 per token, those remaining purchases would represent approximately $194 million.
Speaking at TOKEN2049 on October 7, Lee described the 5% target as a hard cap, meaning the company does not intend to continue buying beyond that level.
The earlier announcement raised questions about Ethereum demand once BitMine stops purchasing tokens. However, stopping accumulation would not necessarily mean selling its existing holdings.
Ethereum Staking Could Generate $336M Annually
BitMine is increasingly focused on generating income from its enormous holdings rather than accumulating tokens indefinitely.
The company currently has 5,067,309 ETH staked, representing approximately 84% of its treasury and $12.9 billion at the latest reference price.
At a reported annualized staking yield of 2.61%, BitMine estimates approximately $336 million in annual staking rewards. If its entire treasury were staked at that yield, projected annual rewards could approach $400 million.
These estimates depend on network conditions and future staking yields, rather than representing guaranteed revenue.
BitMine's staking operations include MAVAN, its institutional validator platform, which also serves outside investors and custodians.
