Ethereum
BitMine Reaches 4.9 Percent of Circulating Ether Supply with 6 Million ETH Holdings
BitMine Immersion Technologies holds over six million ether as it nears a five percent supply target, with the vast majority of its holdings locked in staking contracts.
BitMine Immersion Technologies, chaired by Tom Lee, reported holding 6,016,414 ether as of October 5, 2026, representing roughly 4.9 percent of the 122.1 million circulating Ether supply. The company's treasury was valued at approximately $14.7 billion on October 8 after adding 15,100 ether over the course of a single week.
The firm is approximately 88,600 ether short of its target to amass 5 percent of the total supply, which equates to roughly 6.1 million coins. At its current acquisition pace of around 15,100 ether per week, BitMine is on track to reach that mark in roughly six weeks, even as ether's market price fell about 9 percent over the week to $2,448.
BitMine has staked 5,067,309 ether, or approximately 84 percent of its total balance, generating an estimated $363 million annually in staking rewards. Withdrawing this staked capital requires moving through Ethereum's exit queue, where roughly 800,000 ether were queued at the time of the report.
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