BitMine’s ETH Hoard Hits 5.85M Tokens, 97% of Way to 5% Supply Goal

BitMine Immersion Technologies now holds 5,847,611 ETH, worth roughly $14.3 billion at Sunday’s prices, after adding 32,447 tokens over the past week for about $81 million. The Tom Lee-chaired company’s stash equals 4.8% of Ethereum’s 120.7 million total supply, putting it within striking distance of the 5% ownership goal it set out to hit in June last year.

That leaves BitMine roughly 187,000 ETH short of the finish line on what it calls its “Alchemy of 5%” strategy. At current holdings, the firm has already completed about 97% of the plan.

A bigger buy than usual

The latest purchase dwarfs BitMine’s recent weekly pace. The company had been adding closer to 10,000 ETH per week in prior announcements, including 9,926 tokens two weeks ago and 10,270 tokens the week after that.

The jump in buying coincided with a sharp move in Ethereum’s own price. ETH traded around $1,900 last Wednesday and climbed roughly 30% to briefly top $2,500, its largest weekly gain since May 2025. The token was changing hands near $2,502 at last check, up about 2.3% on the day, while bitcoin sat near $79,435.

Lee has pointed to two prior instances of comparable weekly rallies, in July 2021 and May 2025, that were followed by subsequent gains of 167% and 170%. Those figures describe past price action only; they are not a forecast for what ETH does next.

Staking alongside accumulation

Beyond buying, BitMine has continued staking a portion of its ETH holdings, a move that lets the company earn yield on tokens it has no plans to sell. The dual strategy of accumulating supply while staking it has been central to how the firm frames its position as more than a passive holder.

Owning close to 5% of a network’s circulating supply is a rare concentration for a single publicly traded entity. For Ethereum holders and traders, BitMine’s continued buying removes tokens from active circulation and adds a large, price-sensitive treasury to watch during periods of volatility.

With roughly 187,000 ETH left to reach its self-imposed target, the pace of BitMine’s next few weekly disclosures will show whether the company intends to close that gap quickly or let the remaining purchases trickle in at its earlier, smaller pace.

Sources

• cryptopotato.com
• decrypt.co