Bitmine Immersion Technologies ETH Holdings Reach 5.74 Million Tokens, Representing 4.8% of Total Supply
Bitmine Immersion Technologies (BMNR) announced its Ether holdings have reached 5.74 million $ETH tokens, equivalent to 4.8% of the cryptocurrency's total circulating supply of 120.7 million coins. The company reported combined crypto and cash holdings of $11.1 billion, a figure that cements its position as one of the largest institutional holders of the asset.
Key takeaways
- Bitmine Immersion Technologies (BMNR) holds 5.74 million ETH, equal to 4.8% of Ether's total circulating supply of 120.7 million coins.
- Bitmine reported combined crypto and cash holdings of $11.1 billion, making it one of the largest institutional holders of Ether.
- The company is 95% of the way to its self-designated 'Alchemy of 5%' target, reaching that proximity in roughly 12 months.
- Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026, forcing index-tracking funds to hold the stock.
- Bitmine's Series A Preferred Stock trades on the NYSE under the ticker BMNP, in addition to its common shares under BMNR.
Bitmine Immersion Technologies (BMNR) announced its Ether holdings have reached 5.74 million $ETH tokens, equivalent to 4.8% of the cryptocurrency's total circulating supply of 120.7 million coins. The company reported combined crypto and cash holdings of $11.1 billion, a figure that cements its position as one of the largest institutional holders of the asset.
Closing In on the 'Alchemy of 5%'
Bitmine says it is 95% of the way toward what it calls the "Alchemy of 5%" — a self-designated threshold representing ownership of 5% of Ether's total coin supply. The company reached that proximity in roughly 12 months, a pace of accumulation that implies a sustained and deliberate acquisition program rather than opportunistic buying. At the current supply of 120.7 million coins, a full 5% position would require approximately 6.035 million tokens; Bitmine's disclosed 5.74 million figure puts the gap at under 300,000 ETH.
The velocity of accumulation is worth noting: a one-year sprint to 4.8% of any major liquid asset's supply is a significant concentration trade. What the disclosure does not offer is breakdown by acquisition cost, average entry, or the derivative structure — if any — used to manage exposure along the way. Funding-rate history on $ETH perpetuals over the same window shows the market was not uniformly cheap, which makes the cost basis question material for investors evaluating the $11.1 billion combined holdings figure.
Russell 1000 Inclusion Adds Index Exposure
Bitmine was added to the Russell 1000 Large-cap index on June 26, 2026, a development that mechanically forces index-tracking funds to hold the stock. Russell inclusion typically introduces a new class of price-insensitive buyers and can affect share-price behavior independently of underlying asset performance — a dynamic that matters when the stock's primary driver is a concentrated Ether treasury.
Preferred Stock on NYSE
The company's Series A Preferred Stock trades on the New York Stock Exchange under the ticker symbol BMNP, providing investors an additional instrument to access Bitmine's balance sheet beyond the common shares listed under BMNR.
The 5% target, if reached, would mark one of the most concentrated single-entity positions ever disclosed in a major proof-of-stake network — a fact with implications for both governance and liquidity that the market will need to price in.
Related reading
Filed by the macro desk of MarketPR on July 6, 2026. Source: prnewswire.com. Indicative figures are not investment advice.