Ethereum treasury company BitMine Immersion plans to end its weekly ETH purchases once it reaches its target of owning 5% of the cryptocurrency's circulating supply. Speaking at TOKEN2049 in Singapore, Chairman Thomas Lee said BitMine needs approximately another 100,000 ETH to complete its accumulation strategy. The announcement comes as Ethereum faces pressure from ETF withdrawals and a sharp price decline, raising questions about demand as one of its largest corporate buyers approaches its purchasing limit. BitMine nears its Ethereum accumulation target Lee said BitMine reached its current position considerably faster than anticipated, building its holdings in a little over a year rather than the five years initially expected.