Bitmine Chairman Tom Lee announced that the company will cease purchasing ether once its holdings represent 5% of the token’s circulating supply. The firm currently holds more than 6 million ETH, equivalent to roughly 4.9% of the 122.1 million tokens in circulation, and requires about 100,000 additional ETH to reach the target. Lee made the remarks during a panel at TOKEN2049 in Singapore on Wednesday. At current market prices, the existing holdings are valued at approximately $15.5 billion. The company began its treasury strategy in June 2025 and has maintained weekly purchases since then, spending $41 million on ETH in the most recent week. At the current acquisition pace, reaching the 5% threshold would require six to seven more weeks. Bitmine reported holding $643 million in cash and marketable securities that could be used for further purchases, more than double the amount needed to complete the target. The planned stoppage ends an uninterrupted demand pattern that has persisted through a prolonged bear market, during which the company’s ETH position has generated $4.5 billion in unrealized losses. Ether’s price fell 5% on Wednesday, reaching its lowest level since September 20, as broader crypto market weakness continued. The development occurs amid ongoing volatility in digital asset markets and follows similar strategic shifts by other institutional participants.