Bitmine Dominates Ethereum Holdings with Aggressive Accumulation Strategy
Bitmine Immersion Technologies (NASDAQ: BMNR) has been steadily accumulating Ethereum since launching its crypto treasury program on June 30, 2025. The company's disciplined strategy has seen it purchase ETH every single week, with a significant milestone reached last week when it bought 17,362 Ethereum tokens.
This latest purchase brings Bitmine's total to 6,001,302 ETH, representing 4.9% of the estimated 122.1 million Ethereum tokens in circulation. With a collective value of approximately $16.3 billion at a price of roughly $2,716 per token, this position puts Bitmine as one of the most aggressive institutional accumulators of Ethereum.
The company's goal is to reach its 'Alchemy of 5%' supply target within 15 months, which would cement Bitmine as the single largest known corporate holder of Ethereum by a significant margin. This milestone has profound implications for the token's market dynamics and would make Bitmine a dominant player in the Ethereum ecosystem.