Bitmine Gets Within About 40,000 ETH of Tom Lee’s 5% Target After Another Week of Buying

Bitmine said it held 6,070,092 ETH as of Nov. 8, equal to 4.97% of Ethereum's supply and within roughly 40,000 ETH of Tom Lee's 5% target after another week of buying. The position sits inside $14.3 billion in crypto, cash and stakes held by the Ethereum treasury company. The near-completion of the 5% goal matters because it signals the buyer's accumulation phase may soon slow, removing a steady source of demand. Watch whether Bitmine finishes the remaining stake and what it does with holdings once the target is met.