247 Wallst
10 Oct 2026, 00:20 UTC · 2h ago
BitMine Approaches Its ETH Purchase Limit: Who Will Buy Ethereum Next?
Impact · against what's priced in
BitMine (BMNR) faces a significant catalyst risk as its primary growth driver—the accumulation of Ethereum—is nearing a permanent ceiling. The removal of the market's largest consistent buyer, combined with flipping ETF flows, creates a negative demand vacuum that BMNR's stock is only beginning to reflect.
- BMNR−0.60
No priced-in read yet
- In context
The company will permanently stop purchasing ETH once it hits a 5% supply cap, leaving only 100,000 ETH (~$250 million) of buying remaining over the next 6-7 weeks.
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