Bitmine Expands Ethereum by $41M, Reaches 99% of Alchemy 5% Target
Bitmine Buys $41M More Ethereum, Reaching 99% of Its “Alchemy of 5%” Target
Bitmine has purchased an additional $41 million worth of Ethereum, pushing its total holdings past 6 million ETH and bringing the firm to 99% of the way toward its stated “Alchemy of 5%” target.
According to the information provided, Bitmine’s Ethereum position now represents roughly 4.9% of ETH supply, positioning the company just shy of the 5% threshold referenced in its goal.
The milestone matters because it signals a deliberate strategy to build one of the largest concentrated Ethereum holdings in the market. Reaching a figure near 5% of supply is notable in a network where ownership is typically widely distributed across exchanges, funds, institutions, and individual wallets.
Bitmine chairman Tom Lee framed the move as part of a broader macro view on Ethereum, saying ETH is “dwarfing” other macro assets. The comment underscores why the company is emphasizing Ethereum accumulation as a core corporate focus.
- Latest purchase: $41 million in additional ETH
- Total holdings: more than 6 million ETH
- Share of supply: about 4.9%
- Progress toward goal: 99% of “Alchemy of 5%”
Beyond the headline number, the development highlights an ongoing theme in crypto markets: some firms are increasingly treating major network assets like Ethereum not only as tokens used for transactions and applications, but also as long-term strategic holdings tied to broader macro narratives.
