MarketPR
Bitmine Immersion Technologies (BMNR) has accumulated 5.70 million $ETH tokens, the company announced, giving it a 4.7% claim on Ethereum's circulating supply of 120.7 million tokens and pushing total crypto and cash holdings to $9.8 billion.
The disclosure marks a concentrated bet on Ethereum at a scale few public companies have attempted, and arrives days after the company earned a seat in the Russell 1000 Large-Cap Index.
Closing In on the "Alchemy of 5%" Bitmine's self-styled "Alchemy of 5%" target — a threshold representing outright 5% ownership of circulating $ETH — is now 94% complete, the company said, a milestone reached in just 11 months.
The framing signals an intentional scarcity play: acquiring a share of Ethereum's supply large enough that secondary market movements in the token carry direct balance-sheet consequences for BMNR shareholders.
Keep reading