WuBlockchain
Bitmine (BMNR) acquired 27,562 ETH over the past week, bringing its holdings to 5,983,940 ETH as of September 20. That represents 4.9% of total ETH supply and puts the company at approximately 98% of its 5% accumulation target.
Why it matters
Bitmine's strategy is moving beyond simple accumulation. It holds 5,067,309 staked ETH, valued at approximately $13.6 billion at an ETH price of $2,688, making staking a central part of its treasury model.
The company also reported combined crypto holdings, cash, marketable securities and other investments of approximately $17.1 billion, including $714 million in cash and marketable securities.
Market impact
The purchase reinforces Bitmine's position as the largest Ethereum treasury company and adds another large institutional buyer to the ETH market. Reaching 5% of supply would make its accumulation target effectively complete, while the scale of its staked holdings links the strategy to Ethereum's staking economy as well as its price.
Investors will be watching whether Bitmine continues accumulating after reaching the target and how its staked ETH contributes to the value of the broader treasury.
Source: [Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 5.98 Million Tokens, and Total Crypto and Total Cash Holdings of $17.1 Billion](https://www.prnewswire.com/in/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-5-98-million-tokens-and-total-crypto-and-total-cash-holdings-of-17-1-billion-302884432.html)
Frequently asked questions
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How much ETH does Bitmine now hold?
Bitmine held 5,983,940 ETH as of September 20 after acquiring 27,562 ETH over the preceding week.
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What percentage of ETH supply does Bitmine control?
Bitmine's holdings represent 4.9% of total ETH supply, putting it approximately 98% of the way to its 5% accumulation target.
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How much of Bitmine's ETH is staked?
Bitmine has 5,067,309 ETH staked. Those holdings were valued at approximately $13.6 billion at an ETH price of $2,688.
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What is Bitmine's broader balance-sheet value?
Bitmine reported approximately $17.1 billion in combined crypto holdings, cash, marketable securities and other investments, including $714 million in cash and marketable securities.
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What will investors watch after Bitmine reaches 5% of ETH supply?
Investors will watch whether Bitmine continues accumulating ETH after reaching the target and how its staked holdings contribute to the value of its broader treasury.
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