BitMine Closes in on 5% ETH Supply Goal with 6 Million Token Milestone
BitMine Immersion Technologies has reached a new milestone in its Ethereum treasury strategy, surpassing 6 million tokens. This puts the company within approximately 104,000 ETH of its stated goal to control 5% of the cryptocurrency's total supply.
The company disclosed that it acquired 17,362 ETH during the week ended September 27, lifting its balance to 6,001,302 tokens. Using a reference price of $2,698 per coin, the Ethereum position is worth about $16.2 billion.
Combined with bitcoin, cash, marketable securities and equity stakes, BitMine valued its total holdings at $17.2 billion. The company's chairman, Tom Lee, described the crossing of 6 million ETH as evidence of the network effects that come with owning nearly 5% of Ethereum's supply.
BitMine has been accumulating Ethereum since June 30, 2025, when it launched its treasury strategy. Its current balance represents approximately 4.9% of the 122.1 million tokens in circulation, translating to 98% completion of the company's self-described 'Alchemy of 5%' objective.