Update
Bitmine Stops Buying Ethereum at 5% of Supply
Bitmine, a corporate Ethereum accumulator, has announced it will stop buying Ethereum once it reaches 5% of the total supply. Chairman Tom Lee stated that the company has imposed a hard cap of 5% and will stop accumulating ETH once that threshold is reached. Bitmine currently holds approximately 6 million ETH, which is 4.9% of the total supply. The company has been accumulating Ethereum aggressively, including purchases around $1,500, and has continued to add ETH even as it approaches the cap.