BitMine Immersion Technologies, a company that holds Ether as a treasury asset, is on course to own 5% of Ether's total supply by early November. That only happens if it keeps buying at its recent pace. The estimate comes from a Cointelegraph review of 12 weekly updates BitMine published starting July 13.
Holding 5% of Ether's supply is the goal BitMine set for itself. The open question is what the company does once it gets there. Tom Lee has not said whether BitMine will keep buying after it reaches 5%.
The November date is a projection, not a confirmed plan. It assumes BitMine keeps buying the way it has in recent weeks. The source does not say whether that pace will hold, and it does not say what BitMine will do after reaching its target.
For anyone already holding an ETH perpetual on Bitget, Bybit, MEXC or OKX, this story changes nothing directly. The article says nothing about funding rates, trading fees or order-book liquidity on any exchange. What it shows is one company buying Ether and a target that may be reached soon. Any effect on what a perpetual costs to hold would show up in funding and fee data, not in this report.
Source: cointelegraph — BitMine could hit its 5% Ether supply target within weeks — then what?
Price today: Ethereum