coin-img-ETHETH-4.77%coin-img-SOLSOL-4.57%coin-img-BTCBTC-2.82%coin-img-XRPXRP-5.59%coin-img-USDCUSDC+0.03%coin-img-DOGEDOGE-5.23%coin-img-HYPEHYPE-4.54%coin-img-SUISUI-5.34%coin-img-ETHETH-4.77%coin-img-SOLSOL-4.57%coin-img-BTCBTC-2.82%coin-img-XRPXRP-5.59%coin-img-USDCUSDC+0.03%coin-img-DOGEDOGE-5.23%coin-img-HYPEHYPE-4.54%coin-img-SUISUI-5.34%coin-img-ETHETH-4.77%coin-img-SOLSOL-4.57%coin-img-BTCBTC-2.82%coin-img-XRPXRP-5.59%coin-img-USDCUSDC+0.03%coin-img-DOGEDOGE-5.23%coin-img-HYPEHYPE-4.54%coin-img-SUISUI-5.34%coin-img-ETHETH-4.77%coin-img-SOLSOL-4.57%coin-img-BTCBTC-2.82%coin-img-XRPXRP-5.59%coin-img-USDCUSDC+0.03%coin-img-DOGEDOGE-5.23%coin-img-HYPEHYPE-4.54%coin-img-SUISUI-5.34%
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CoinGape

Bitmine to stop buying ETH after reaching 5% of total supply, Tom Lee says

AI Market Summary
Bitmine's executive chairman Tom Lee said the firm will stop accumulating Ethereum once it reaches a 5% supply cap, reducing a key source of marginal demand for ETH. The news coincides with broader crypto weakness and a premarket drop in BMNR, highlighting sensitivity of crypto-linked equities to ETH drawdowns and treasury valuations. Sell-side commentary remains constructive on the Ethereum ecosystem, but near-term positioning may shift.
Impact level
● Medium
Affected assets
ETH/USDT-4.80%
AI Insight · ETH/USDTAI Insight
● Neutral
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Bitmine executive chairman Tom Lee said at the Token 2049 conference that the company will stop buying Ethereum once it reaches a hard cap of 5% of ETH’s total supply. He said Bitmine needs about 100,000 more ETH to hit that threshold. BMNR shares were down more than 4% in premarket trading, pressured by the news and a broader pullback in the crypto market.
ETH
ETH-4.77%
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.
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