BitMine Reaches 5.98 Million ETH and Moves Within 2% of Its Supply Goal

By Isaac • September 21, 2026 3:34 pm •

BitMine Immersion Technologies is now within striking distance of a goal that sounded almost absurd when the company announced it: holding 5% of Ethereum’s circulating supply.

The company said it owned 5,983,940 ETH as of September 20 after buying another 27,562 ETH during the week. At BitMine’s reference price of $2,688 per token, the Ethereum position alone was worth roughly $16.1 billion.

The position gives one public company control of more than 4.9% of Ethereum’s estimated 122.1 million circulating tokens.

In its September 21 holdings update, BitMine says the company has completed 98% of what it calls the “Alchemy of 5%,” its plan to acquire 5% of ETH supply. The treasury strategy began on June 30,