{
  "id": 12586924,
  "title": "BitMine sets 5% Ether supply ‘hard cap’ as accumulation target nears",
  "url": "https://urgent.news/2026/10/07/bitmine-sets-5-ether-supply-hard-cap-as-accumulation-target-nears",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T08:50:02.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/bitmine-ether-5-percent-supply-hard-cap"
  },
  "original_language": "en",
  "account": "BitMine, a cryptocurrency investment firm, has set a hard cap of 5% for its Ether holdings, according to Chairman Tom Lee. Speaking at the Token2049 conference in Singapore, Lee confirmed that the company will not accumulate more than 5% of Ethereum's supply, which is currently equivalent to around 6 million Ether or 4.9% of the total supply. Lee stated that the company needs an additional 100,000 Ether to reach this target. He emphasized that the 5% cap is a firm decision and not something the company will revisit, even in 2027 when he previously mentioned the possibility of accumulating more than 5%. Lee explained that BitMine has been amassing its Ether holdings during a bear market, allowing the company to build its position at depressed prices. He also linked the hard cap to the company's capital strategy, stating that reaching the 5% limit would remove the need to raise additional funds to continue buying Ether. Lee highlighted that this would enable BitMine to outperform Ethereum's price increase without the burden of needing to raise capital.",
  "summary": "Tom Lee said BitMine will not accumulate Ether past 5% of the supply, turning the company’s target into a ceiling.",
  "key_points": [
    "BitMine sets 5% Ether supply hard cap as accumulation target nears",
    "Chairman Tom Lee confirms 5% cap at 6 million Ether",
    "Cap reached to avoid raising additional funds for Ether purchases"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}