Bitmine Expands Ethereum Holdings to 4.8% of Supply

Bitmine Immersion Technologies has announced that its Ethereum holdings have reached 5.8 million tokens, valued at approximately $10.9 billion, as of August 2, 2026.

The company's Ethereum position now equates to nearly 4.8% of the network's total supply, estimated at around 120.7 million ETH.

Bitmine has been accumulating its Ethereum treasury since mid-2025 and has made significant progress toward its long-term objective of reaching 5% ownership, referred to as the 'Alchemy of 5%.'

The company's Chairman Tom Lee highlighted Ethereum's relative performance in July, noting that it outperformed the Nasdaq 100 by a notable margin.