Publicly traded ether treasury firm Bitmine Immersion Technologies announced Monday that it has edged closer to its stated goal of obtaining 5% of the circulating ETH supply, adding about $41 million worth of the cryptocurrency to its holdings over the last week.
Lee projected $363 million a year in staking revenue, based on a 2.63% seven-day yield from BitMine's own operations.
The purchase lifts Bitmine's stash past 6 million ETH—4.9% of supply and 99% of the way to its "Alchemy of 5%" goal—as chairman Tom Lee says Ethereum is "dwarfing" other macro assets.
The Ethereum treasury company now holds 6,016,414 ETH, about 89,000 short of owning 5% of ether's supply, as Lee pointed to a 21 million share buyback this year.
Bitmine Immersion Technologies has raised its Ethereum treasury to 6,016,414 ETH after buying another 15,112 tokens over the past week, leaving the company just short of its target to own 5% of Ethereum's supply. According to Bitmine's Oct.
Bitmine added 15,112 ETH as Chairman Tom Lee said Ethereum outperformed the S&P 500 by 6,832 basis points in Q3.
Bitmine is 99% of the way to owning 5% of all ETH, while Strategy buys more BTC and buys back STRC.
PRNewswire, PRNewswire, 5th October 2026, Chainwire
Bitmine's aggressive ETH acquisition strategy could amplify Ethereum's market influence and attract increased institutional investment. Bitmine acquires 15,112 Ethereum, raising total to 6.02M ETH.
The company's total Ether position now stands at 6,016,414 ETH.
1.5 million ETH waiting to enter staking and 786,000 other ethereum outflows, after a peak at 851,000 ETH related to the MetaMask incident. And to make matters worse, ETH is stuck below $2,800.
The assets issued on Ethereum represented 53.2% of the $349.2 billion combined market value across networks. Arc, Tempo and HyperEVM led additions over the past 30 days.