Bitmine Immersion Tops 6 Million ETH Tokens in Treasury Holdings
Bitmine Immersion Technologies now holds over 6 million Ethereum tokens, representing 4.9% of total ETH supply, with combined crypto assets reaching $17.2 billion.
Bitmine Immersion Technologies (BMNR) disclosed Tuesday that its Ethereum holdings have surpassed 6 million tokens, equal to approximately 4.9% of the total circulating ETH supply of 122.1 million, as the company pushes toward a self-described milestone it calls the "Alchemy of 5%." The company said its combined holdings of cryptocurrency, cash, and marketable securities stand at $17.2 billion.
The company reached its current accumulation level in roughly 15 months, covering 98% of the distance to the 5% supply threshold in that timeframe. The pace of accumulation underscores an aggressive treasury strategy centered on Ethereum as a primary reserve asset rather than a diversified crypto portfolio.
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Bitmine's disclosure comes as Ethereum has outperformed competing macro assets in the third quarter of 2026 to date, including the S&P 500, according to the company's announcement. The relative strength of ETH during the period adds strategic context to the firm's concentrated bet on the second-largest cryptocurrency by market capitalization.
The move positions Bitmine among a small number of public companies that have adopted large-scale digital-asset treasury policies, a strategy pioneered in the Bitcoin space but now extending to Ethereum as institutional interest in the asset class broadens. The 5% supply threshold, if reached, would make Bitmine one of the largest single non-protocol holders of ETH globally.
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