BMNR Stock Outlook as Tom Lee Says Bitmine Will Halt ETH Purchases at 5% Supply Target

Bitmine (NYSE: BMNR) stock faces a test after the executive chairman, Tom Lee, noted that the company will not buy more Ethereum after it accumulates 5% of ETH’s total supply. BMNR stock price was down by 4.58% in pre-market trading at press time as a dip across the broader crypto market weighed on the shares.