BitMine nears 5% Ethereum supply target with massive buy

BitMine now controls 5.54 million ETH, representing 4.6% of Ethereum's supply, as it nears its 'Alchemy of 5%' goal amid institutional accumulation.

BitMine now controls over 5.54 million ETH, a staggering amount that represents approximately 4.6% of the total circulating supply of the world’s second-largest cryptocurrency.

The latest acquisition brings the company closer to its ambitious “Alchemy of 5%” strategy, which aims to secure 5% of all Ethereum in existence. Current data shows BitMine has already completed over 92% of this roadmap.

Corporate accumulation continues

While Michael Saylor’s Strategy remains the primary symbol of corporate Bitcoin accumulation, BitMine is rapidly establishing itself as the most aggressive public player within the Ethereum ecosystem.

The company reported assets totaling approximately $9.6 billion, including roughly $7.7 billion in staked ETH. More than 4.7 million tokens are currently participating in the network’s validation process, allowing BitMine to simultaneously increase its Ethereum exposure and generate additional yield.

Company Chairman Tom Lee stated that recent purchases were executed during periods of market weakness. The leadership team believes the altcoin’s current valuation fails to reflect its future importance to global financial infrastructure.

According to the company, two specific trends could drive demand in the coming years: the tokenization of traditional financial assets by institutional investors and the integration of autonomous AI agents that require public, decentralized infrastructure for payments and operations.

Shifting strategies among corporate crypto players

This growing Ethereum exposure comes at a time when public companies are adopting increasingly diverse approaches to managing their crypto reserves.

While BitMine aggressively expands its position, Strategy recently caught market attention with its first Bitcoin sale in years.

The firm offloaded a limited amount of 32 BTC to fund dividend payments on preferred shares—a move that sparked debate regarding its long-standing reputation as an investor that “never sells.”

Meanwhile, Strive continues to scale its own Bitcoin strategy through new capital-raising programs designed to fund further purchases. These moves highlight a growing divide between companies using cryptocurrencies as a static strategic reserve and those beginning to manage liquidity more actively.

For the Ethereum market, BitMine’s actions carry significant weight. If the company reaches its 5% supply goal, it will become one of the most influential participants in the ecosystem, holding enough tokens to impact liquidity, the staking market, and institutional perception of the asset.

Against the backdrop of intensifying competition between corporate treasuries, BitMine appears to be betting on a future where Ethereum serves as the foundational infrastructure for tokenized assets, stablecoins, and AI-driven financial services. This thesis underpins one of the largest ETH accumulation efforts ever seen on public markets.