Tom Lee says Bitmine is 100,000 ETH away from ending its buying spree

Key Summary

Bitmine, a treasury firm, announced that it will stop accumulating Ethereum once its holdings reach 5% of the token's circulating supply, approximately 6,016,414 ETH. Chairman Tom Lee stated that the firm needs roughly another 100,000 ETH to reach its target, which would be valued at around $15.5 billion at current prices. This move would remove a consistent source of Ethereum demand and bring an end to the firm's buying spree.