Ethereum: BitMine nears 5% of total ETH supply

BitMine has purchased 27,562 ETH in one week, bringing its holdings to 5,983,940 ethers—or 4.9% of the supply—as the publicly traded company nears its 5% target. The article Ethereum: BitMine nears 5% of total ETH supply first appeared on Journal du Coin.

The aggressive accumulation strategy led by BitMine Immersion Technologies has reached a pivotal stage. By recording a new weekly purchase of 27,562 units, the company has brought its reserves to nearly 6 million ethers, accounting for 4.9% of the total circulating supply. This financial push, representing a current value of $17.1 billion, positions the organization as a near-institutional monopolist of the asset, just 120,000 tokens away from the symbolic 5% target set by its CEO, Tom Lee.

The business model deployed by BitMine stands out through its proactive management of its digital treasury. Unlike traditional strategies relying solely on debt or new equity issuance, the company leverages staking to grow its holdings. With approximately 85% of its tokens locked on the network, the entity generates substantial yields, estimated at around 127,000 ETH per year. This passive production allows the firm to strengthen its positions without necessarily diluting shareholders, transforming its reserves into a true digital dividend engine.

The implications of this rapid ascent are twofold for the market. On one hand, BitMine exerts significant influence over the ecosystem, holding nearly 14% of all staked ethers on the blockchain alone. On the other, the valuation of the BMNR stock remains intrinsically tied to the performance of these assets, creating a cycle where investor confidence funds constant purchases. The firm currently holds $714 million in available liquidity, guaranteeing sufficient firepower to hit the 5% milestone within the next few weeks.

This trajectory, which began in June 2025, illustrates a profound shift in corporate treasury management, as publicly traded companies no longer hesitate to turn their balance sheets into direct exposure to decentralized assets. While the success of BMNR stock—which has multiplied by five in one year—has validated this accumulation policy so far, the model's long-term viability will depend closely on market conditions. In the event of a downturn, the dependence on the value of the held ethers could become a double-edged sword for shareholders, although for now, the group appears to be managing its expansion with exemplary financial discipline.