BitMine Approaches Its ETH Purchase Limit: Who Will Buy Ethereum Next?

BitMine is weeks away from hitting its self-imposed Ethereum buying cap, and when it stops, the market loses its single biggest source of demand at the worst possible time.

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As BitMine nears its buying threshold, the question arises: who will step in to buy Ethereum?

BitMine Immersion Technologies (NYSE:BMNR | BMNR Price Prediction), the largest corporate buyer of Ethereum (CRYPTO:ETH), has announced it will stop purchasing Ether once it reaches 5% of the total supply. Chairman Tom Lee shared this information during the TOKEN2049 conference in Singapore on October 7, 2026. With only about 100,000 ETH left to buy—valued at approximately $250 million—BitMine is close to that cap. This leaves many wondering who will fill the gap once BitMine stops its buying spree.

After Lee’s announcement, Ether’s price dipped about 5%, while BitMine’s shares fell 6%. As of October 9, ETH was trading around $2,505, an 8.8% decline over the past week and nearly 49% below its August 2025 peak of $4,946.

BitMine Holds About 6 Million ETH and Needs 100,000 More

BitMine currently owns about 6 million ETH, valued at around $15 billion, representing about 4.9% of the 122 million Ether in circulation. The company accumulated this substantial Ether treasury by consistently converting investment funds into ETH.