Bitmine Nears 5% ETH Ownership Goal with 6 Million Ether Haul

Bitmine Immersion Technologies has made significant strides in its cryptocurrency treasury strategy, amassing over 6 million Ether (ETH) in just under 15 months. As of September 27 at 3 p.m. ET (19:00 UTC), the company held 6,001,302 ETH, valued at approximately $16.2 billion at a price of $2,698 per ETH.

This represents 4.9% of Ethereum's total supply of 122.1 million ETH, putting Bitmine 98% towards its goal of owning 5% of the cryptocurrency. The company's 'Alchemy of 5%' strategy involves acquiring and staking Ether to support the Ethereum blockchain network.

According to Tom Lee, institutions remain underweight in crypto and are expected to increase their exposure during the final months of 2026. In response to Changpeng Zhao's social media post, Lee quipped 'agree do you own enough crypto?'