Ether is about to lose a steady buyer as Tom Lee says Bitmine will stop token purchases

Written and edited by the WorldPing NewsdeskPublished Updated Original reporting: CoinDesk
Ether is about to lose a steady buyer as Tom Lee says Bitmine will stop token purchasesWorldPing
Image via CoinDesk.

What happened

Tom Lee said Bitmine will be “done stacking” once it owns 5% of ETH, setting an end date to an accumulation streak that began in mid-2025 and made the company the world's largest Ethereum treasury.

Key facts

  • Tom Lee said Bitmine will be “done stacking” once it owns 5% of ETH, setting an end date to an accumulation streak that began in mid-2025 and made the company the world's largest Ethereum treasury.
  • Reported by CoinDesk and published Wed, 07 Oct 2026 12:40:31 UTC.

Why it matters

Digital-asset markets react to catalysts within minutes, and liquidity, ETF flows and regulatory signals are usually what decide whether a move sticks.

What to watch next

  • Whether spot volume and open interest confirm the move
  • Liquidation clusters around the current price
  • ETF flow data and any regulatory follow-up

Coverage timeline

When each newsroom published on this story, oldest first — all times UTC.

  1. Bitmine sets 5% Ether supply ‘hard cap’ as accumulation target nears

  2. Bitcoin ETFs rebound with $119M inflow as Ether extends losses

  3. Why Abstract is killing its Ethereum L2 instead of launching a token to save it

  4. Live updates: Cryptos tumble, with ETH down 5% as Tom Lee confirms Bitmine buying limit

  5. Blackrock Pulls $122M Into Bitcoin ETFs as Ether Loses $202M

  6. Chasing 100x tokens is game of ‘irrational exuberance,’ says Polymarket CEO

  7. Ether is about to lose a steady buyer as Tom Lee says Bitmine will stop token purchases

Sources

The original report was published by CoinDesk. WorldPing does not claim that reporting — this page summarises and contextualises it.

Read the full report at CoinDesk

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