BitMine Hits 5M ETH ($11.75B, ~4.3% Supply) as Tom Lee Signals Buy Slowdown Near 5% Target

BitMine Immersion Technologies now holds approximately 5 million ETH valued at $11.75 billion (~4.3% of supply), with Chairman Tom Lee signaling a slowdown in aggressive 100k+ ETH weekly buys as it nears its 5% target after three consecutive large purchases. The firm absorbed ~35,000 ETH from Ethereum Foundation OTC sales totaling ~$47 million over a week, staking 88% of holdings (4.55M ETH, ~$10.8B) for $297M-$352M annual yield at 2.91%. BitMine is pivoting to a $4B share buyback, NYSE listing, and MAVAN staking expansion amid ETH trading near $2,300, down 53% from $4,953 ATH.