Bitmine nears 5% Ethereum supply target after latest ETH purchase
Bitmine is edging closer to its stated goal of holding 5% of Ethereum's circulating supply as its treasury strategy continues to expand. The company says its total crypto, cash, marketable securities and other investments now stand at $14.3 billion, underscoring the scale of its balance sheet beyond ether alone.
Highlights
- Bitmine acquired 9,587 ETH last week, raising total holdings to 6,070,092 ETH valued at over $12.9 billion.
- Following the latest ETH purchase worth about $20.3 million, Bitmine now holds 4.97% of Ethereum's supply, nearly reaching its 5% target.
- Bitmine's treasury includes 216 BTC ($16.1 million), a $75 million Eightco Holdings stake, $180 million in Beast Industries, and $475 million in cash and securities.
Latest acquisition and treasury positioning
As reported by The Block, Bitmine says it bought 9,587 ETH last week, taking its treasury holdings to 6,070,092 ETH, worth more than $12.9 billion at current prices.The company says its latest purchase is worth about $20.3 million at current market levels, although it does not disclose an average purchase price. Bitmine adds that its ETH holdings now account for about 4.97% of Ethereum's circulating supply of roughly 122.2 million ETH, putting it 99% of the way toward its "Alchemy of 5%" target after launching its Ethereum treasury strategy in June 2025.
Broader portfolio and market rationale
In a company statement, Tom Lee links the strategy to a longer-term view on Ethereum's role in finance and technology. He cites comments from Ethereum founder Vitalik Buterin at Devcon 8 in Mumbai, saying the remarks reinforce his view that ETH stands to capture value in a coming "supercycle" driven by tokenization and AI.Beyond ether, Bitmine says that as of Nov. 8 it also holds 216 BTC valued at $16.1 million, a $75 million stake in Eightco Holdings, a $180 million stake in Beast Industries, and $475 million in total cash and marketable securities. Those positions indicate the company is building a broader digital-asset and investment treasury while keeping Ethereum at the center of its allocation strategy.
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