Bitmine Immersion Closes In on 5% ETH Goal as Ethereum Sees Historic Price Gain

Bitmine Immersion Technologies (BMNR) has made significant strides in its pursuit of acquiring 5% of the total Ethereum (ETH) supply, a goal it calls the 'Alchemy of 5%'. As of August 23, 2026, the company's ETH holdings stand at 5.85 million tokens, representing 4.8% of the total ETH coin supply of 120.7 million.

BMNR's Chairman, Thomas 'Tom' Lee, stated that the company has been steadily acquiring ETH every week since June 30, 2025, and has bought a total of 32,447 ETH in the past week alone.

The price of Ethereum has seen significant gains, with a 30% increase in the past week. This is the largest weekly gain since May 2025, and precedes larger subsequent gains of +170% and +167% in July 2021 and May 2025, respectively.

BMNR's staking operations have also seen significant growth, with a total of $12.4 billion worth of ETH staked on the company's MAVAN platform. The projected annualized staking rewards for BMNR are approximately $381 million at scale.