Bitmine buys an additional 28,086 ETH, nearing 5% of the total Ether supply

In the crypto treasury sector, giant Bitmine stands as a leader with its Ether holdings, to which it has just added over 28,000 ETH. This move brings the company closer to its goal of holding 5% of the total supply of the cryptocurrency. Here is the latest… The article Bitmine buys an additional 28,086 ETH, nearing 5% of the total Ether supply appeared first on Cryptoast.

Against a market backdrop where many crypto treasury companies have struggled to stay the course, Bitmine has emerged as a major player by aggressively consolidating its Ether reserves. The company, led by Tom Lee, has just finalized the acquisition of an additional 28,086 ETH for a total of $69.44 million. This move is part of a long-term strategy, dubbed "Alchemy of 5%", aimed at capturing a significant share of the circulating supply of the market's second-largest cryptocurrency.

To date, the group holds a massive portfolio of 5.93 million ETH, valued at nearly $14.66 billion, all of which is fully staked. This strategic position brings Bitmine's share of the total Ether supply to 4.9%. The company is now just steps away from its target objective, needing roughly 170,802 tokens—worth approximately $420 million at current prices—to cross the symbolic 5% threshold.

Bitmine's financial strength extends beyond Ethereum. Its total balance sheet stands at a valuation of $15.7 billion, including cash, marketable securities, and other digital assets, such as Bitcoin holdings. This prudent diversification, combined with steady weekly Ether accumulation since June 2025, reflects an operational discipline rare in the sector, safeguarding the firm against the erratic fluctuations that led to the downfall of less resilient competitors.

The impact of this strategy is reverberating directly across traditional financial markets. Since joining the Russell 1000 index last June, Bitmine's stock has surged by a remarkable 99%, ranking as the index's 4th best performer. This outperformance highlights growing investor appetite for companies whose financial health is closely tied to the resilience and expansion of the Ethereum ecosystem.

Looking ahead, reaching this 5% goal puts Bitmine in an unprecedented position of influence over the Ethereum network. By capitalizing on staking and the bullish market recovery, the company is doing more than just diversifying its treasury—it is establishing itself as an institutional pillar whose future moves will be closely watched by all digital finance players. The countdown has now begun for the final phase of this strategic accumulation.