Bitmine Hits 96% of 'Alchemy of 5%' ETH Goal with $11.3 Billion Portfolio

Bitmine Immersion Technologies (BMNR) made significant announcements regarding its Ethereum holdings and overall portfolio. The company revealed that it now holds approximately 5.8 million ETH tokens, representing a 4.8% stake in the total ETH supply of 120.7 million coins. This achievement has been described as '96% of the way to the Alchemy of 5%' by Thomas Tom Lee, Chairman of Bitmine.

In July, Ethereum outperformed the Nasdaq 100 by a significant margin, marking one of the largest outperformances since July 2025. This development is seen as reflective of the strengthening fundamentals of crypto. In response to this trend, Bitmine repurchased 4.5 million common stock in the past week under its $4 billion share repurchase program.

The company's total crypto and cash holdings now total approximately $11.3 billion, including a substantial stake in Beast Industries and Eightco Holdings (NASDAQ: ORBS). Bitmine also owns a significant portion of staked ETH, with 4,917,189 tokens currently staked on the MAVAN platform.

As one of the most widely traded stocks in the US, Bitmine's shares have seen an average daily dollar volume of $698 million over the past month. The company's management team believes that its digital asset accumulation strategy and staking operations are driving significant growth and returns for investors.