BitMine's Ethereum Treasury Reaches 4.8% of Total ETH Supply

BitMine Immersion Technologies (BMNR) said in an official release on Monday, July 6, 2026, that it had bought 42,197 ETH for about 74 million dollars over the prior week, lifting its total Ethereum holdings to 5,742,237 tokens, about 4.8 percent of Ethereum's roughly 120.7 million circulating supply. The release put the company's total crypto and cash holdings at 11.1 billion dollars. BitMine chairman Tom Lee has dubbed the accumulation campaign the Alchemy of 5%, targeting ownership of 5 percent of Ethereum's total supply. According to CoinDesk and The Block, on-chain trackers identified two further transfers worth about 71.6 million dollars combined to the company's wallets on July 7 and 8, which had not yet been confirmed in a new official disclosure as of publication.