BitMine adds 76,881 ETH in a week, now holds 4.66% of total…

BitMine Immersion Technologies (BMNR) added 76,881 ETH over the past week, pushing its total Ethereum holdings to 5.62 million ETH — equivalent to approximately 4.66% of Ethereum's entire circulating supply of 120.7 million tokens. The company's total crypto and cash holdings have reached $10.4 billion, with roughly $285 million held in cash.

Why it matters

BitMine is now 93% of the way to its self-declared "Alchemy of 5%" threshold — a target that, if reached, would make it one of the single largest institutional holders of any major proof-of-stake asset in existence. The pace is striking: the company has accumulated this position in just 11 months, a timeline that puts sustained, aggressive buying pressure on ETH's available float. With 4.66% of supply locked into a single institutional balance sheet, the effective liquid supply of ETH continues to shrink.

Market impact

For ETH markets, the signal is structural rather than tactical. BitMine's accumulation rate — nearly 77K ETH in a single week — represents a consistent bid that absorbs sell-side flow without triggering visible price dislocations, suggesting the buying is being executed carefully. Investors tracking Ethereum's supply dynamics should note that institutional concentration at this scale compresses the float available to retail and DeFi participants alike. The 5% milestone, now within reach, is likely to attract further media and institutional attention when crossed.