Bitmine Reaches 'Alchemy of 5%' Milestone with 5.85 Million ETH Tokens

Bitmine Immersion Technologies (BMNR) has reached an important milestone in its goal of acquiring 5% of the total ETH supply, also known as the 'Alchemy of 5%'. According to the company's announcement, it now owns 5.85 million ETH tokens, which accounts for approximately 4.8% of the total ETH coin supply of 120.7 million. This achievement comes just 14 months after BMNR began its Ethereum Treasury Strategy on June 30, 2025.

The price of ETH has also surged in recent weeks, gaining 30% in the past week - the largest weekly gain since May 2025 and July 2021. In both precedent instances, this level of growth was followed by subsequent gains of +170% and +167%, respectively.

Bitmine's Chairman, Thomas 'Tom' Lee, believes that the current upside move in ETH is overdue given the strengthening fundamentals in crypto, including Wall Street tokenization and agentic-AI. He also notes that the White House's recent support for crypto and the Treasury's purchase of long-term bonds have contributed to improved risk appetite.

As part of its strategy, BMNR has developed MAVAN (the Made in America VAlidator Network), an institutional-grade staking platform that allows for efficient and secure staking. The company currently holds $12.4 billion worth of ETH tokens on the platform, with a 7-day yield of 2.67%.