Bitmine Hits 6.02 Million ETH in 15-Month Push to 5% Supply Goal
Bitmine Immersion Technologies (BMNR) has announced that its ETH holdings have reached 6.02 million tokens, representing 4.9% of the total ETH supply of 122.1 million. The company is 99% of the way to achieving its goal of accumulating 5% of the total ETH supply, known as the 'Alchemy of 5%', in just 15 months.
As of October 4, 2026, Bitmine's crypto and cash holdings total $17.4 billion. This includes 6.016 million ETH, 214 Bitcoin (BTC), a $180 million stake in Beast Industries, an $117 million stake in Eightco Holdings (NASDAQ: ORBS), and $643 million in total cash and marketable securities. The company has also staked 5.067 million ETH, valued at $13.8 billion at $2,726 per ETH.
Thomas 'Tom' Lee, Chairman of Bitmine, highlighted the company's outperformance during the 2025-2026 bear market. He noted that while ETH declined 10% in the first nine months of 2026, BMNR was down by only 3%, reflecting a 731 basis point outperformance. Lee also emphasized Bitmine's consistent weekly ETH acquisitions since the inception of the ETH Treasury Strategy on June 30, 2025.
Bitmine was recently added to the Russell 1000 Large-cap index and its Series A Preferred Stock is trading on the NYSE under the symbol BMNP. The company is backed by prominent institutional investors including ARK's Cathie Wood, MOZAYYX, Founders Fund, Bill Miller III, Pantera, Kraken, DCG, Galaxy Digital, and Thomas 'Tom' Lee.