Bitmine Holds 6.02M ETH Tokens, Crypto Assets Total $17.4B

Bitmine Immersion Technologies (BMNR) announced that its Ethereum holdings have reached 6.02 million ETH tokens, representing approximately 4.9% of the total circulating supply of 122.1 million coins. The company's combined holdings of cryptocurrency, cash, and marketable securities now stand at $17.4 billion, underscoring the scale of its digital asset accumulation strategy.

The milestone was reached in roughly 15 months, with the company reporting it has completed 99% of what it calls its "5% alchemy" goal — an internal benchmark targeting ownership of 5% of all circulating Ethereum. The rapid pace of accumulation signals an aggressive treasury strategy centered on ETH as a primary reserve asset.

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Bitmine's position in the Ethereum market places it among the largest known institutional holders of the second-largest cryptocurrency by market capitalization. The company's strategy mirrors broader trends of corporations using digital assets as balance sheet instruments, though Bitmine's concentration in a single token at this scale remains notable within the sector.

Adding visibility to the firm, Tom Lee, a prominent Wall Street strategist and Fundstrat co-founder, is scheduled to deliver the opening keynote at the Token2049 conference in Singapore on October 7, 2026, an event where Bitmine is expected to have a profile presence.

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