Bitmine Immersion Technologies holds 4.9% of total Ethereum supply

Bitmine Immersion Technologies (BMNR) has reached a significant milestone in its Ethereum treasury strategy, now holding approximately 6,016,414 ETH. This amount represents roughly 4.9% of the total circulating Ethereum supply, placing the company just 89,000 ETH shy of its stated 5% target, referred to as the “Alchemy of 5%.”

Despite the massive holdings, which are valued at approximately $16.4 billion based on recent pricing, the company reported its second consecutive week of slowing purchases. In the week ending October 4, Bitmine added 15,112 ETH, its lightest weekly acquisition since mid-August.

Chairman Tom Lee noted that the company has maintained a consistent buying streak since June 30, 2025. Beyond Ethereum, Bitmine’s total assets, including cash and other investments, are valued at $17.4 billion. The company’s strategy involves utilizing its position as a digital asset treasury (DAT) to acquire cryptocurrency through equity and debt issuance.