BitMine Inches Closer to 5% Stake in Ethereum Supply

BitMine, a prominent corporate buyer of Ether (ETH), is close to achieving its ambitious goal of holding 5% of Ethereum's supply. As of August 24, 2026, BitMine's stash stands at 5,847,611 ETH, valuing it at approximately $14.2 billion based on the current market price.

The company has been steadily increasing its holdings by buying around 32,000 ETH each week since June 30, 2025, when it launched its Ethereum Treasury Strategy. This pace suggests that BitMine could reach its target in just a couple of months, but this timeline remains subject to the discretion of the board and market conditions.

Reaching the 5% milestone would not grant BitMine any control over the Ethereum network or its transactions, upgrades, or governance. Despite this, hitting the target is seen as an important benchmark for the company's success in accumulating a significant portion of Ethereum's supply.