[REVISION HISTORY]

BitMine nears 5% ETH supply target via staking and buybacks

19 recorded revisions of this situation.

What changed

2026-10-19 14:18 UTC → 2026-10-26 14:19 UTC · added ~~removed~~

Since April 2026, BitMine Immersion Technologies has transitioned to an Ethereum-focused treasury model, targeting a 5% circulating supply holding. By early September 2026, the company reported expanding its treasury to 5,929,198 ETH. By late September 2026, BitMine surpassed 6 million ETH following a purchase of 17,362 tokens valued at nearly $47 million. This milestone maintains the company at approximately 4.9% of the total Ethereum supply, leaving it just 89,000 ETH shy of its ‘Alchemy of 5%’ target. As of October 4, 2026, holdings reached approximately 6,016,414 ETH. Speaking at Token2049 in Singapore, Chairman Tom Lee announced a hard cap on accumulation, stating the company will cease purchases once the 5% threshold is reached to avoid continuous fundraising. Following this, BitMine reported holdings of approximately 6.04 million ETH after an incremental purchase of 12,535 tokens. The total portfolio, including crypto, cash, and private equity, is valued at approximately $15.1 billion. By late October 2026, BitMine increased its holdings to 6,051,933 ETH, representing roughly 4.95% of the total supply. The company also executed significant share buybacks, repurchasing 2.04 million shares in a single week; total 2026 buybacks reached 22.9 million shares valued at $399.6 million. Lee described the program as the ‘largest crypto treasury company common equity buyback ever executed.’ Through its MAVAN (Made-in-America Validator Network) initiative, BitMine has staked ~~approximately 5.06~~ over 5.22 million ETH. ~~Based on current yields, the~~ The company projects significant annual staking ~~revenue, aiming~~ revenue and aims to pivot toward monetizing its treasury once the acquisition phase concludes. Other assets include 215 Bitcoin, $74 million in Eightco Holdings, and a $180 million stake in Beast Industries.

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