Bitmine Acquires Additional 15,112 ETH, Total Holdings Reach 6.02 Million

Bitmine Immersion Technologies has announced the acquisition of an additional 15,112 ETH, bringing its total Ethereum holdings to approximately 6.02 million tokens. This latest purchase is part of the company's ongoing strategy to accumulate Ethereum, which it has been executing consistently since June 30, 2025.

With this acquisition, Bitmine now owns about 4.9% of the total circulating supply of Ethereum, which is approximately 122.1 million ETH. The firm, chaired by Tom Lee of Fundstrat, aims to reach a 5% ownership target, a goal Lee refers to as the “Alchemy of 5%.” This threshold is believed to enhance network effects and attract more institutional interest in Ethereum.

Bitmine's treasury strategy has proven effective, as the company reported a valuation of its Ethereum holdings at around $16.2 billion, based on a reference price of $2,698 per ETH. The firm also holds 213 BTC and approximately $672 million in cash and marketable securities, contributing to total assets of around $17.4 billion.

As of the latest update, 5.067 million ETH, or about 84% of Bitmine's holdings, are staked through its MAVAN institutional platform, which has yielded a recent staking return of 2.62%. This translates to projected annual rewards of approximately $358 million.

Tom Lee has emphasized the importance of the 5% target, suggesting that achieving this milestone could lead to significant institutional inflows into Ethereum, particularly as the market enters what he anticipates will be a bullish cycle.