BitMine Nears 5% of All Ethereum After New Purchase
BitMine reports 6.07 million ETH in its treasury, putting it at 4.97% of the total supply. The company has already staked most of it through MAVAN and expects further growth toward 5%.
Key Takeaways
- BitMine Immersion Technologies now holds 6,070,092 ETH, equal to 4.97% of the total Ethereum supply.
- The company bought 9,587 ETH in the week through November 8, worth about $20 million at the reference price it used.
- BitMine says it still needs about 39,908 ETH to reach its goal of owning 5% of all issued Ethereum.
BitMine Immersion Technologies has expanded its Ethereum holdings again and now stands at 6,070,092 ETH, equal to 4.97% of the total supply. The company bought 9,587 ETH in the week through November 8 and reported that figure on November 9 in a press release that was also filed with the SEC. At BitMine's reference price of $2,234 (€2,000) per ETH, that purchase is worth about $20 million (€17.9 million).
Almost at the 5% Goal
The purchase brings BitMine close to the goal the company itself calls the Alchemy of 5%: five percent of all Ethereum ever issued, held by corporations. According to BitMine, that strategy started on June 30, 2025, and is about 99% complete after fifteen months. The company says it still needs about 39,908 ETH to cross the 5% line, although that is based on an estimated total supply of 122.2 million ETH.
BitMine does not say exactly when it will cross that line. That means the weekly updates remain mostly a snapshot of a very large treasury that has been steadily growing for months.
A Large Share Is Already Staked
Of the total position, 5,227,037 ETH is staked, or about 86% of the holdings. BitMine values that portion at about $11.7 billion (€10.5 billion) and, based on a seven-day yield of 2.65%, expects annual staking income of $309 million (€276 million). If the entire treasury were staked, the company says that would work out to about $359 million (€321 million) per year. Those are projections based on a short average period and are not guaranteed income.
In addition to Ethereum, BitMine also holds 216 Bitcoin and $475 million (€424 million) in cash and marketable securities. That brings the total portfolio to $14.3 billion (€12.8 billion). Earlier this year, the company also reported a steep quarterly loss, but ETH buying continued in the meantime.
Why This Matters
For European crypto readers, this update shows how large the role of institutional players in Ethereum has become. Through MAVAN, the Made in America Validator Network, BitMine also opens staking infrastructure to institutional investors. That fits into a broader trend where more ETH is locked in staking, while yields are now around 2.63% per year and millions of extra ETH have already flowed into staking in 2026. Broader institutional demand for Ethereum is still visible too, for example in initiatives aimed at bringing Wall Street to ETH.