Bitmine Reaches $11.4 Billion in Crypto and Cash Holdings with 96% Progress Towards Alchemy of 5%

Bitmine Immersion Technologies (BMNR) has announced that its Ethereum holdings have reached 5.82 million tokens, making it one of the largest ETH treasuries in the world.

The company's total crypto and cash holdings now stand at $11.4 billion, with 96% of the way to achieving its goal of acquiring 5% of the total ETH supply, also known as the 'Alchemy of 5%'.

Bitmine repurchased 1.7 million shares of common stock in the past week alone, bringing the cumulative total since July 2026 under its $4 billion share repurchase program to over 20.8 million shares.

The company's Chairman, Thomas 'Tom' Lee, stated that the strengthening fundamentals of crypto are reflected in the fact that Ethereum outperformed the Nasdaq 100 by 2,500 basis points in July, the largest since July 2025.