BitMine Accumulates Nearly 5% of Total Circulating Ethereum Supply
Following an acquisition of over 27,000 ETH, BitMine Immersion Technologies holds nearly six million tokens in its corporate treasury.
BitMine Immersion Technologies has added 27,562 ETH over the past week for approximately $74 million, at an average purchase price of $2,688. The purchase brings the company's total reserves to 5,983,940 ETH, representing roughly 4.9% of Ethereum's 122 million circulating token supply.
The accumulation is part of the firm's "Alchemy of 5%" initiative launched in summer 2025 following a $250 million fundraising round. To achieve the 5% target established by chairman Tom Lee, the company requires approximately 120,000 additional ETH, valued at around $330 million. At its current weekly pace, BitMine could reach that milestone within five weeks.
BitMine holds total assets of $17.1 billion, which includes $714 million in liquid cash and marketable securities. The company has committed 5,067,309 ETH—roughly 85% of its cryptocurrency holdings, worth $13.6 billion at $2,688—to staking. BitMine remains the largest corporate holder of Ethereum ahead of SharpLink Gaming, having more than doubled its position from a 2% share in September 2025, while its BMNR shares have appreciated fivefold since June 2025.
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