BitMine Nears 5% ETH Supply Target with Weekly Purchase

BitMine Immersion Technologies is rapidly approaching its target of holding 5% of the total Ethereum supply. The company has accumulated an additional 27,562 ETH in one week and now holds a reserve of 5,983,940 ethers, representing 4.9% of the total supply.

This purchase brings BitMine's total assets to $17.1 billion, including $714 million in readily available cash and negotiable securities. With its current pace, it will take less than five weeks for BitMine to surpass the 5% threshold set by its president Tom Lee.

The company has been purchasing ETH on a weekly basis since June 2025, with this week's purchase valued at nearly $74 million at an average price of $2,688. At this rate, it will take less than a year for BitMine to cover the necessary balance to reach 5% through staking rewards alone.

BitMine currently holds more than double the number of ETH it held in September 2025, when it first exceeded 2% of the total supply. With its treasury valued at approximately $13.6 billion and generating a yield from staking, BitMine has the means to surpass its target without issuing additional shares.