Fundstrat Head of Research Tom Lee stated at the TOKEN2049 conference that BitMine has set its ETH holding cap at 5% of Ethereum's total supply and will cease further accumulation once that level is reached. He revealed that Vitalik had suggested the company limit its holdings to 5%. BitMine currently holds approximately 6 million ETH, accounting for 4.9% of the total supply, needing about 100,000 more ETH to reach its target. Lee noted that the accumulation, originally expected to take five years, was completed in just over a year during a bear market.