Bitmine Holds 6.02M ETH Worth $17.4B in Total Crypto Assets
Bitmine Immersion Technologies has accumulated 4.9% of Ethereum's total supply in just 15 months, nearing its self-styled '5% Alchemy' milestone.
Bitmine Immersion Technologies (BMNR) disclosed that its Ethereum holdings have reached 6.02 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 its cryptocurrency holdings, cash, and marketable securities stands at $17.4 billion.
The accumulation benchmark is notable for its speed: the company says it has covered 99% of the distance toward its internal target — referred to internally as the "Alchemy of 5%" — within only 15 months of beginning its Ethereum treasury strategy. Reaching that threshold would make Bitmine one of the largest single institutional holders of Ether on record.
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On the corporate governance front, Bitmine was added to the Russell index on June 26, 2026, a development that typically broadens a company's institutional investor base by triggering automatic inclusion in index-tracking funds. The milestone signals growing mainstream recognition for the firm's unconventional treasury model.
Looking ahead, Tom Lee, a prominent figure in crypto market analysis, is scheduled to deliver the opening keynote address at the Token2049 conference in Singapore on October 7, 2026. Lee's appearance at the high-profile industry event underscores Bitmine's effort to raise its profile among institutional and retail investors alike.
The disclosures position Bitmine among a narrow group of publicly traded companies pursuing large-scale cryptocurrency reserve strategies, a model pioneered more broadly in the Bitcoin space. Whether the approach delivers long-term shareholder value remains subject to ETH price volatility and regulatory scrutiny. Continue reading at Cryptocurrency.
