Bitmine Nears 5% Ethereum Supply Goal with Latest ETH Purchase

Bitmine Immersion Technologies has significantly expanded its Ethereum holdings, acquiring an additional 15,112 ETH. This latest purchase brings the company's total Ethereum holdings to over 6 million tokens, valued at approximately $16.4 billion. The move pushes Bitmine closer to its ambitious goal of holding 5% of Ethereum's supply, a target that now seems within reach as the company has already accumulated 4.9% of the circulating supply.

The company's shares responded positively to the news, rising 2.07% to $26.82 on October 5. Bitmine's broader holdings, which include crypto, cash, securities, and other investments, total around $17.4 billion. Notably, the company has staked 5.07 million ETH, maximizing the rewards from its substantial holdings. The valuation of its Ethereum holdings is based on Coinbase pricing from October 4, at approximately $2,726 per token.

Bitmine has been consistently building its Ethereum treasury since June 30, 2025, with weekly purchases contributing to its growing position. Chairman Tom Lee highlighted the company's ongoing commitment to this strategy. To reach its 5% target, Bitmine would need to acquire an additional 120,000 ETH, based on the current supply of 122.1 million circulating tokens.

The company's broader investments include 214 Bitcoin, as well as stakes in Beast Industries and Eightco Holdings. With $643 million in cash and securities, Bitmine's financial portfolio is diversified across multiple asset classes.