BitMine Nears 5% Ethereum Supply Target With Latest Purchase

BitMine Immersion Technologies has accumulated nearly 6 million ether, bringing the company within striking distance of its goal to control 5% of the cryptocurrency's circulating supply. The firm announced it purchased an additional 27,562 ETH last week, bringing its total holdings to 5,983,940 tokens as of September 20, 2026. This represents approximately 4.9% of ether's total circulating supply of about 122.1 million tokens. The latest acquisition, valued at roughly $75 million, extends BitMine's weekly purchasing streak to 64 consecutive weeks since it began its Ethereum treasury strategy on June 30, 2025. The company is now 98% of the way toward its "Alchemy of 5" target, needing approximately 121,000 more ETH to reach the 5% supply threshold at current levels. Alongside the accumulation, BitMine has staked 5,067,309 ETH, representing about 85% of its total holdings. The company projects annualized staking revenue of $357 million based on a seven-day yield of 2.62%. If its entire ETH position were staked, annual rewards could reach $421 million.