BitMine Nears 5% Ether Supply Goal Amid Rapid Accumulation

BitMine Immersion Technologies is rapidly accumulating ether in its push to reach 5% of the circulating supply. According to Cointelegraph's analysis, BitMine has been purchasing an average of approximately 21,600 ETH per week since July 13. If this rate continues, the company could hit its target by early November.

As of Sunday, BitMine reported holding 6,001,302 ETH, representing about 4.9% of the referenced ether supply figure of 122.1 million ETH. To reach 5%, BitMine would need roughly 103,700 additional ETH, which aligns with just under five weeks at the observed buying rate.

However, this estimate is conditional and may change if BitMine slows or accelerates its purchases. The company had previously slowed its buying pace in May and expected to reach 5% in late 2026.