Bitmine Holds 6.04M ETH Tokens, Crypto Portfolio Hits $15.1B
Bitmine Immersion Technologies now holds 4.9% of total Ethereum supply, nearing its '5% Alchemy' milestone in just 15 months.
Bitmine Immersion Technologies (ticker: BMNR) has disclosed that its Ethereum holdings have reached 6.04 million tokens, representing approximately 4.9% of the total circulating ETH supply of 122.1 million, according to a company announcement. The combined value of Bitmine's cryptocurrency assets along with cash and marketable securities now stands at $15.1 billion.
The company said it has completed roughly 99% of the distance toward what it internally calls the "Alchemy of 5%" threshold — a strategic target tied to controlling 5% of all outstanding Ethereum — achieving that benchmark in approximately 15 months. The rapid accumulation pace underscores an aggressive treasury strategy centered on Ethereum rather than the Bitcoin-focused approach adopted by many corporate peers.
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On October 7, Bitmine's Chairman published a letter to stakeholders headlined "Crypto Bull Underway — This Cycle Likely the Largest," signaling that company leadership views current market conditions as favorable and potentially historic in scope. The communication suggests Bitmine intends to maintain or expand its ETH position as the broader cryptocurrency market cycle develops.
Bitmine's concentration in Ethereum places it among the largest known single corporate holders of the asset, a distinction that carries both outsized upside exposure and significant price-volatility risk. Analysts tracking institutional crypto adoption have noted that Ethereum-focused treasury strategies remain far less common than Bitcoin accumulation plays among publicly traded companies.
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