CryptoMedium•7 October 2026•
1 min read
Bitmine Shares Fall as Company Halts Ethereum Accumulation
Key Facts
1Bitmine shares fell 6% following Tom Lee's comments that the company will stop purchasing Ethereum.
2The decision to stop follows the company reaching its target of owning 5% of the total ETH supply.
Bitmine shares fell 6% following Tom Lee's comments that the company will stop purchasing Ethereum. Benzinga reported that the decision to halt buying follows the company reaching its target of owning 5% of the total ETH supply.
This shift in treasury strategy follows a period of aggressive accumulation by the firm. The cessation of purchases signals an end to the consistent buying pressure Bitmine previously provided to the market, impacting the stock price on October 7, 2026.