# BitMine Nears 5% Ether Target With 6 Million ETH Holdings

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/30223
Published: 2026-10-12T11:05:49.000Z
Updated: 2026-10-12T11:05:49.000Z
Section: Business

> The company held 6,016,414 ETH as of Oct. 4, 2026, and would need about 88,586 more ETH to reach 5% of Ethereum’s disclosed supply.

BitMine Immersion Technologies held 6,016,414 Ether (ETH) as of Oct. 4, 2026, bringing the company within about 88,586 ETH of its stated goal to hold 5% of Ethereum’s total supply.

The holdings represented 4.9% of Ethereum’s disclosed supply of 122.1 million ETH. Based on that figure, 5% equals approximately 6,105,000 ETH.

BitMine acquired 15,112 ETH during the week before Oct. 4 and has purchased ETH every week since launching its ETH Treasury Strategy on June 30, 2025. Maintaining the latest weekly purchase pace would put the company at the 5% level in roughly 5.9 weeks, although that calculation does not establish that purchases will end then.

BitMine Chairman Thomas “Tom” Lee said, “Over the past week, we acquired 15,112 ETH.” Lee also said the company had bought ETH “each and every week” since the strategy began.

BitMine has previously described the 5% target as a cap. Lee announced that limit on Oct. 7, while the company’s latest figures describe the 5% level as a target or objective.

The company said it had staked 5,067,309 ETH, or 84% of its holdings, valued at $13.8 billion using an ETH price of $2,726. It projected $363 million in annualized staking revenue and a 2.63% annualized seven-day yield from those operations. The $363 million figure is projected annualized revenue, not realized revenue, and the 2.63% figure is an annualized yield projection.

Staking can reduce the amount of ETH immediately available for trading while generating rewards. Purchases create direct demand, but the disclosed figures do not quantify how BitMine’s buying has affected Ether’s price or liquidity.

BitMine valued its total crypto, cash, marketable securities and “moonshot” holdings at $17.4 billion as of Oct. 4, 2026, at 6:30 p.m. ET (22:30 UTC).