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BitMine says it is 103,698 ETH short of a 5% supply target

The company estimates buying the remaining ETH would cost about $279.8 million, roughly 42% of its reported $672 million in cash and marketable securities.

Reported · Written up by our desk · Ethereum

BitMine Immersion Technologies said on Sept. 28 that it held 6,001,302 ETH, leaving it 103,698 tokens short of its goal to own 5% of Ethereum’s supply, based on the company’s latest supply estimate, according to CryptoSlate.

Buying the remaining ETH at the company’s Sept. 27 reference price would cost about $279.8 million, the outlet reported. BitMine also said it had $672 million in cash and marketable securities on the same date, putting the estimated purchase cost at roughly 42% of that pool.

CryptoSlate added that BitMine has been buying ETH every week since starting its strategy in June 2025, including acquiring 17,362 ETH in the latest week, about 37% fewer than the 27,562 ETH reported for the prior week.

In July, BitMine repurchased about 5.5 million BMNR shares at an average price of $15.6156, for roughly $85.9 million total, while buying 7,430 ETH that week, per CryptoSlate.

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