BitMine Immersion Technologies is nearing its self-imposed 5% Ethereum supply cap. The company held 6,016,414 ETH as of October 4, representing approximately 4.9% of the 122.1 million ETH supply, with only 88,586 ETH remaining to reach the ceiling. At the current purchase pace of 15,112 ETH per week, the threshold would be reached in about 5.9 weeks, around mid-November. BitMine has $643 million in cash and marketable securities to fund the remaining purchases. Once the accumulation phase ends, growth in its ETH position will come exclusively from staking rewards, which could generate approximately $431 million in annualized revenue on its full holdings.
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