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Bitmine buys $41 million more Ethereum, nearly hitting its 5% goal

Bitmine said its Ethereum holdings rose to 6,016,414 ETH, about 4.9% of total supply, leaving it 1% shy of its stated 5% target.

Reported · Written up by our desk · Ethereum

Bitmine, the NYSE-listed firm, said Monday it bought an additional $41 million worth of Ethereum, bringing its total holdings to 6,016,414 ETH.

The company valued the stash at roughly $16.4 billion using a reference price of $2,726 per coin, and said the position represents 4.9% of Ethereum's 122.1 million token supply.

Bitmine said the purchase puts it 99% of the way toward its “Alchemy of 5%” goal of controlling 5% of the network, a target it said it reached in 15 months.

The firm also said it has been buying Ethereum weekly since launching its treasury strategy on June 30, 2025, and cited performance and macro comparisons, including that it believes its stock outperformed ETH even during the 2025 to 2026 bear market.

Latest closeEthereum $2,695.03 ▼1.1%

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