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BitMine Immersion Technologies said it held 5,390,404 ETH as of May 25 after adding 111,942 ETH over the prior week. That stake represents roughly 4.47% of Ethereum's total supply of 120.7 million ETH and puts the company 89% of the way to its stated "Alchemy of 5%" target — a milestone reached in just 11 months.
Why it matters
BitMine is now one of the largest publicly traded Ethereum treasury vehicles on the market, and its buying pace is the headline. Chairman Tom Lee framed ETH's pullback below $2,200 as an "attractive opportunity," signaling the company is leaning into the dip rather than waiting for a higher entry. Of the holdings, 4,712,917 ETH — worth about $10.1 billion at current prices — is already staked, meaning a large share of the position is generating native yield rather than sitting idle.
Market impact
BitMine's total crypto assets, cash and "Moonshots" investments stood at about $12.3 billion, including $444 million in cash, 203 BTC, a $200 million stake in Beast Industries and $95 million in ORBS shares. The aggressive accumulation mirrors the playbook of early corporate Bitcoin treasuries — scale up through cycles, stake or lend the underlying, and let the balance sheet do the talking. With ETH sitting under $2,200 and the company still buying, the implicit read is that public-market vehicles continue to see Ethereum as a long-duration institutional asset.
Source: [Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 5.39 Million Tokens, and Total Crypto and Total Cash Holdings of $12.3 Billion — CNW Group](https://www.newswire.ca/news-releases/bitmine-immersion-technologies-bmnr-announces-eth-holdings-reach-5-39-million-tokens-and-total-crypto-and-total-cash-holdings-of-12-3-billion-879007383.html)
Frequently asked questions
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How much Ethereum does BitMine own?
BitMine reported holding 5,390,404 ETH as of May 25, equal to roughly 4.47% of Ethereum's total supply of 120.7 million ETH.
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How much ETH did BitMine buy last week?
BitMine added 111,942 ETH over the prior week, lifting total holdings from the prior tally to 5.39 million ETH.
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What is BitMine's "Alchemy of 5%" target?
BitMine has set a goal of accumulating 5% of all Ethereum in circulation. The current 4.47% stake puts it 89% of the way there roughly 11 months in.
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How much of BitMine's ETH is staked?
BitMine has staked 4,712,917 ETH — worth about $10.1 billion at current prices — generating native yield on the bulk of its position.
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What did Tom Lee say about ETH's price?
Chairman Tom Lee characterized ETH's pullback below $2,200 as an "attractive opportunity," signaling BitMine is buying through the dip rather than waiting for a higher entry.
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