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Bitmine Immersion Technologies builds ETH stake to 5.77 million tokens, nearing its self-imposed 5% supply threshold

7/17/2026

Corporate treasury allocation to Ethereum ($ETH) has entered a new phase of concentration.

Bitmine Immersion Technologies (BMNR) disclosed that its holdings of the token have reached 5.77 million, equal to 4.8% of the total circulating supply of 120.7 million ETH, with the company's combined crypto and cash assets now at $11.3 billion.

Closing in on the Alchemy of 5% The company has set a supply-share target it calls the "Alchemy of 5%." At 4.8%, Bitmine says it has covered 96% of that path in 12 months.

The framing is deliberately supply-side rather than price-side: the metric management tracks is the fraction of outstanding ETH controlled, not the dollar mark on any given date.