Bitmine Nears 5% Ethereum Supply Target
Bitmine Immersion Technologies has added to its Ethereum holdings, bringing its total to 5.96 million ETH, worth approximately $15 billion at current prices. This represents about 4.9% of Ethereum's supply and puts the company just shy of its goal of owning 5%. The 'Alchemy of 5%' target is a stated objective for Bitmine, which has been steadily increasing its Ethereum holdings since June 30, 2025.
The latest purchase adds to an existing stash of 27,180 ETH acquired over the past week. Staking has become a significant component of Bitmine's Ethereum portfolio, with 5,067,309 ETH staked through its MAVAN platform. This represents about 85% of the company's total Ethereum holdings and is worth approximately $12.7 billion at current prices.
Bitmine projects annual staking income from this position to reach roughly $334 million based on a 2.62% seven-day staking yield. If the company reaches its full 5% target, it expects staking income to rise to about $392 million per year.